By Mario Marroquin
The Connecticut Retirement Plans and Trust Funds (CRPTF) has
made a commitment to a three-year investment fund with GCM Grosvenor Inc. of
Chicago totaling $300 million. The retirement system’s investment program with
GCM will allocate 50% of the fund towards opportunities in private equity,
while the remaining half will focus on real estate investments.
July meeting materials from CRPTF state GCM’s custom mandate
with the retirement system would target fund investments, joint ventures and
co-investments. However, the private equity portion of the fund would allocate
60% to buyouts, 20% to growth and 20% to special situation PE.
The real estate mandate would target value-add and
opportunistic investments across sectors.
CRPTF said the fund investment with GCM will also help
foster the implementation of Connecticut’s inclusive investment initiatives for
private equity and real estate investments.
GCM Grosvenor was reported to have secured a $250 million
commitment for a separately managed account from the Pennsylvania Public School
Employees’ Retirement System in June.
Markets Group reported
in June that CRPTF was mulling increased asset allocations towards real
estate and infrastructure, and a decrease in allocated resources towards global
equity, non-core fixed income.