CRPTF plans $50m investment in Los Angeles multifamily vehicle

The Connecticut Retirement Plans and Trust Funds (CRPTF) is looking to commit up to $50 million to TruAmerica Workforce Housing Fund, a vehicle sponsored by Los Angeles–based multifamily real estate firm TruAmerica Multifamily Investments.

CRPTF recommended the commitment be made on behalf of its real assets portfolio at its Nov. 13 meeting, according to an information packet listed on the pension fund’s website.

TruAmerica Workforce Housing Fund follows a value-add strategy of repositioning class B multifamily investments located principally in the Western United States, as well as select markets in the Eastern United States. TruAmerica is looking to raise $400 million and seeks to continue its strategy of repositioning class B multifamily investments in select markets.

The fund’s strategy falls under the real estate allocation of CRPtFâ