Connecticut proposes $300m commitment to mandate managed by GCM Grosvenor

Connecticut Treasurer Shawn Wooden is considering a commitment of up to $300 million to a custom fund of a mandate managed by GCM Grosvenor, Gabriella Martin, Esq., director of public affairs for the Office of the Treasurer, confirmed in an email.

The fund will seek to invest roughly equally across the private equity and real estate asset classes throughout three years. The vehicle will focus on primary fund investments and co-investments in North America and opportunistically in Europe. Within real estate, the mandate may include joint ventures/revenue sharing agreements.

According to Martin, the fund would provide the Connecticut Retirement Plans and Trust Funds (CRPTF) exposure to a differentiated focus on investments in diverse and emerging managers who are largely unknown to institutional investors and are often undercapitalized. Martin said uncovering and investing in such managers can create a sourcing edge as there is less competition among allocators.

A