Connecticut Retirement Plans & Trust Funds, Hartford, is considering committing up to $75 million to a distressed debt fund, and has committed a total of up to $115 million to two alternatives funds according to Pensions & Investments.
Connecticut Treasurer Denise L. Nappier, principal fiduciary of the $29.6 billion system, announced at the state's investment advisory council meeting Wednesday that she is considering investing up to $75 million in Clearlake Capital Partners IV, a distressed debt fund managed by Clearlake Capital Group that targets special situations, distressed and value investments.
The pension fund previously invested in Clearlake Capital Partners III.
Also at the IAC meeting, Ms. Nappier announced a commitment of up to $85 million to ArcLight Energy Partners Fund VI, an energy infrastructure fund managed by ArcLight Capital Partners that targets North American midstream and power assets.
She also announced the decision to commit up to $30 million to Covenant Apartment Fund VIII, a value-added real estate fund managed by Covenant Capital Group that acquires, renovates and repositions apartment communities in Southeastern and mid-Atlantic states.
The pension fund is invested in two prior Covenant funds: Covenant Apartment Fund V and Covenant Apartment Fund VI. It is also is invested in ArcLight Energy Partners Fund V.
Ms. Nappier said at the June 10 meeting she was considering commitments in the ArcLight and Covenant funds.