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Sign in Sign up for a FREE subscriptionConnecticut pension invests $150m, considers additional $300m for U.S. real estate
The Connecticut Retirement Plans & Trust Funds has committed $150 million to two value-added real estate funds, according to its May 12 minutes.
The pension fund made a $100 million commitment to Mesirow Financial Real Estate Value Fund IV and a $50 million investment in Penzance DC Real Estate Fund II.
Mesirow Financial Real Estate Value Fund IV, a U.S. value-added fund managed by Mesirow Financial, is more than halfway to its $1 billion fundraising target. It will invest in the multifamily and senior housing sectors.
Penzance DC Real Estate Fund II, a U.S. value-added fund managed by Penzance, launched in 2020 with a $400 million target to invest in the CBD office, mixed-use, multifamily and retail sectors.
The pension fund is also planning to allocate more into