Connecticut Retirement Plans and Trust Funds (CRPTF) is planning a real estate pacing plan for the 2025 calendar year at $1.35bn (€1.3bn), as written by the pension fund in a board meeting document.
The pension fund expects to invest around $850m of the planned capital into non-core assets via fund or co-investment strategies.
The plan includes a $500m core real estate allocation. However, expected annual redemptions of $200m to $235m from core, open-ended funds over the next three years could result in a net core investment of approximately $300m in 2025.
CRPTF expects the pacing to help it reach its goal of reaching a 10% real estate allocation by 2027, targeting a 45%/55% core/non-core asset mix.
The pension fund will consider allocating capital to new or existing real estate managers.
CRPTF has also set a $700m pacing plan for its infrastructure/natural resources portfolio in 2025, according to the meeting document.
The entire infrastructure allocation is expected to be invested through a combination of funds and co-investments, with $500m earmarked for core investments and $200m for non-core.
The larger core allocation reflects previous non-core commitments made in 2022 and 2023, which are expected to be funded in the coming years.
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