Connecticut retirement fund considers commitment to USAA
The $26.3 billion Hartford, Conn.–based Connecticut Retirement Plans and Trust Fund (CRPTF) is reviewing a $100 million commitment to USAA Eagle Real Estate Fund, confirms David Barrett, communications director at Connecticut’s Office of the Treasurer. The investment will be part of a broader strategy for investment in open-end core real estate funds.
Connecticut Treasurer Denise Nappier will make a final decision at the next investment advisory council meeting on July 10. If approved, the commitment will be the pension fund’s first investment with USAA Real Estate Co.
The USAA Eagle Real Estate Fund, an open-end fund, was launched in August 2012 and invests in all property types in the United States with a core/core-plus investment strategy. It held an initial closing of $465 million.
CRPTF has a target allocation to real estate of 7 percent, with a range of 5 percent to 9 pe