Connecticut Retirement Plans and Trust Funds (CRPTF) is planning to issue $300m (€250m) worth of commitments into real estate and infrastructure funds.
CRPTF is considering a $150m commitment to ISQ Global Infrastructure Fund III, a global fund which has so far raised $1.65bn of its $12bn fundraising target.
In a meeting document, the pension fund’s investment consultant Meketa Investment Group said the fund is expected to have an interim close at the end of this month, without disclosing an amount.
The fund’s manager I Squared Capital is expected to be making a co-investment of not less than 2% of the total commitments.
Fund III will have a companion co-investment vehicle designed for smaller investors and expected to have a $300m hard cap. Fund III targets value-add investments that can produce gross internal rate of returns of 15% to 20%.
CRPTF is also planning put $100m into the IPI Partners II, a data centre fund in which the New Jersey Division of Investment has also said it is considering investing $150m.
The fund, which is planning a $1.5bn fundraise to buy a mixture of data centres, technology and connectivity-related assets, is expected to have a final close in the current quarter, according to CRPTF.
The fund’s manager IPI Partners will be making a co-investment of at least into the fund.
CRPTF said it is also considering a $50m commitment into TruAmerica Workforce Housing Fund, a US multifamily real estate fund which raised half of its $400m fundraising target at an initial close this month.
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