To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Connecticut considers committing $50m to Gerding Edlen fund

by Jody Barhanovich

The $30 billion Connecticut Retirement Plans and Trust Funds is considering a $50 million commitment to Gerding Edlen Green Cities III, a value-added/opportunistic fund managed by Gerding Edlen, according to spokesman David Barrett in an email. A final decision on the investment has yet to be made.

The closed-end fund will invest in office and multifamily properties that meet high energy-efficiency standards in gateway cities across the United States. Gerding Elden had raised $310 million for the fund as of February 2016. The fund is targeting $350 million in equity commitments.

The Connecticut pension fund committed $55 million to the fund’s predecessor, Gerding Edlen Green Cities II, in March 2014. The pension fund has a target allocation to real estate of 7 percent and an actual allocation of 5.8 percent.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?