Treasurer Erick Russell Announces $375 Million in Investment Commitments
at March Investment Advisory Council Meeting
HARTFORD, CT – In Wednesday’s meeting of the state’s Investment Advisory Council (IAC), Connecticut State Treasurer Erick Russell announced two pension fund investment commitments totaling $375 million.
“I appreciate the role the IAC played in reviewing and evaluating these additions to our investment portfolio,” said Treasurer Russell. “I believe these funds align well with our priorities and demonstrate solid long-term growth potential.”
In the state’s Private Investment portfolio, Treasurer Russell announced that his office had committed $175 million to Vistria Fund V, LP. In the Infrastructure and Natural Resources portfolio, he announced a commitment of $200 million to Global Infrastructure Partners V, LP.
Also in Wednesday’s meeting, Chief Investment Officer Ted Wright reported on Connecticut Retirement Plans and Trust Funds (CRPTF) performance attribution, and general investment consultant Meketa provided a CRPTF liquidity analysis.
Wright, along with Principal Investment Officers Denise Stake and Peter Gajowiak, presented an overview of the recommendation for General and Real Assets Investment consulting services. This is the result of an RFP issued by the Office of the Treasurer in September 2022.
Regarding prospective investments, Principal Investment Officer Mark Evans presented the following Private Equity opportunities: JFL Equity Investors VI, LP; K6 Private Investors, LP; One Rock Capital Partners IV, LP; and One Rock Emerald Fund, LP.
“There’s no doubt that the market remains volatile,” said Treasurer Russell. “It’s important that the CRPTF remain focused on smart, strategic diversification, and we’ll continue to evaluate a broad scope of investment opportunities to continue to meet that goal.”
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About the Office of the Treasurer
The Office of the Treasurer is charged with safeguarding Connecticut’s financial resources through prudent cash and debt management, with the State Treasurer serving as principal fiduciary for six state pension and nine state trust funds. Additionally, the Office enhances the state’s fiscal stability through programs promoting financial literacy and college savings, and it leverages business partnerships to support the advancement of Connecticut’s social and policy priorities, including combating gun violence and protecting our environment. The Office of the Treasurer is led by State Treasurer Erick Russell, the only Black elected state treasurer in the country. To learn more, visit portal.ct.gov/ott.
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