Connecticut Retirement Plans and Trust Funds has plans to invest $65 million in an opportunistic real estate debt fund managed by Basis Investment Group, according to the April 13 agenda.
Basis Investment Group Real Estate Fund I (BIG Real Estate Fund) focuses on originating, co-originating, or acquiring debt and structured equity investments located throughout the United States. According to an SEC filing, the fund has raised $185 million and has a $400 million fundraising target.
The pension fund had a 6.9 percent allocation to real estate as of Sept. 30.
Other fund investors include the $201.3 billion New York State Common Retirement Fund, which committed $25 million to BIG Real Estate Fund I in January.
