Connecticut Retirement Plans and Trust Funds is considering making $450m (€403.8m) worth of new real estate commitments, according to the pension fund’s board meeting document.
According to the document, the pension fund is considering investing $150m in US grocery-anchored shopping centres via a fund managed by Sterling Organization.
Sterling Organization is seeking to raise $600m for the fund with a hard cap of $850m, and aims for an internal rate of return of 8% to 10%.
Connecticut Retirement is considering making a $300m commitment to TA Realty’s open-ended core US real estate fund.
The pension fund is considering allocating $200m in 2025 to TA Realty Core Property Fund and $100m over the following years.
As of the end of 2024, the fund’s net asset value was $5.7bn, with TA Realty holding an 18% co-investment.
Launched in 2018 with a $1.5bn seed portfolio, the TA Realty Core Property Fund now has a diversified portfolio including industrial, retail, multifamily and self-storage properties.
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