Connecticut Retirement Plans confirms $100m commitment

The US public pension has backed an open-ended real estate debt vehicle.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, United States
AUM: $34.93bn
Allocation to alternatives: 21.4%
Bitesize: $50-100m

Connecticut Retirement Plans and Trust Funds agreed to commit $100 million to Ares’ open-ended Real Estate Enhanced Income Fund at its December 2019 investment advisory committee meeting, a contact at the pension informed Private Debt Investor.

The vehicle in question is a leveraged fund that will issue directly-originated first mortgage loans to investors in stabilized real estate assets.

As illustrated below, Connecticut has made three commitments to private debt funds with a 2018 or 2019 vintage, which combined constitute $258 million.

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