Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $43.7 billion
Allocation to alternatives: 20.5%
Connecticut Retirement Plans and Trust Funds confirmed $425 million-worth of commitments to private debt funds at its July 2021 investment advisory council meeting, a contact at the pension informed Private Debt Investor.
ICG‘s eighth series European debt fund is in market targeting €7 billion from investors, with SVP‘s fifth special situations vehicle having raised $4.4 billion across a number of interim closes, surpassing its initial $4 billion equity capital target. BIG‘s second real estate debt fund raised over 70 percent of its $550 million target via its first close in June 2021.
Connecticut has a 5 percent target allocation to private debt which stood at 0.8 percent as of 31 May 2021. The pension’s private debt portfolio has a market value of just under $350 million.
As illustrated below, the $43.7 billion US pension’s recent private debt commitments have targeted vehicles with strategies varying from senior or subordinated lending to those focused on acquiring distressed debt.
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