Investors - JUNE 16, 2015

Connecticut considers $115m of real estate, infrastructure commitments

by Zoë Wolff

Connecticut State Treasurer Denise Nappier is considering commitments of up to $115 million on behalf of the Connecticut Retirement Plans & Trust Funds, according to a spokesperson for the pension fund.

At the investment advisory council meeting on June 10, Nappier proposed investing up to $30 million in Covenant Apartment Fund VIII and up to $85 million in ArcLight Energy Partners Fund VI.

Covenant VIII is a value-added fund and will focus on acquiring, renovating and repositioning apartment communities in the Southeast and mid-Atlantic. CRPTF previously invested in Covenant Apartment Fund V and Fund VI.

ArcLight Energy Partners Fund VI is an energy infrastructure fund that will focus on North American midstream and power assets. CRPTF previously invested in ArcLight Energy Partners Fund V. Another recent investor in the ArcLight fund is the $10.9 billion Louisiana State Employees’ Retirement System.

No timetable has been announced as to when the final commitments will be decided. The $29.4 billion pension fund has a 7 percent target allocation to real estate. The actual allocation to real estate is 5.8 percent as of April 2015.

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