Connecticut Treasurer talks up private credit, real estate debt

The office of the State Treasurer of Connecticut Shawn T. Wooden announced the state pension system’s continued progress in growing the debt side of its portfolio, with a distinct focus on private credit and real estate debt partnerships.

The Connecticut Retirement Plans and Trust Funds (CRPTF) approved $650 million in new private credit commitments, as previously reported by Alternatives Watch.

“At a time of significant dislocation in the credit markets, we remain nimble and ready to execute on opportunities,” said Wooden in a statement. “As a result CRPTF’s new 5% allocation to the private credit asset class that was approved by the IAC in February, we have met our target commitments for the first year – allowing us to make significant progress and take on new commitments.”

He added that contract negotiations are currently underway with the new managers selected. Treasurer Wooden also shared investment opportunities under consideration, including a potential commitment of $100 million to the Waterton Residential Property Venture XIV Fund, a private real estate fund expected to close at $1.25 billion. Other investors in the fund reportedly include Texas Employees’ Retirement System and the Louisiana Teachers’ Retirement System.

Also under consideration are potential investments with convertible bond managers Advent Capital Management and Calamos Advisors.

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