Connecticut commits $100m to real estate, considers $100m more
On behalf of the Connecticut Retirement Plans and Trust Funds, Connecticut State Treasurer Denise L. Nappier has decided to make a commitment of up to $100 million to Clarion Lion Industrial Trust, an open-end industrial fund managed by Clarion Partners.
The commitment, made at the June 11 meeting of the Investment Advisory Council, was made on behalf of the $28.5 billion CRPTF, which comprises six state pension funds and nine state trust funds. The investment is contingent upon successful negotiation of the contract terms and fund documents.
According to a memo from chief investment officer Lee Ann Palladino to Treasurer Nappier, the $4.6 billion open-end industrial fund, which launched in 2002, primarily focuses on acquiring, renovating, repositioning and/or redeveloping industrial properties across the United States. The fund typically targets properties that exhibit core characte