Connecticut Retirement Plans and Trust Funds (CRPTF) plans to invest $650m (€613m) and $550m in infrastructure and real estate, respectively, this year.
According to its plan for infrastructure, set out in a board meeting document, $450m will be allocated to non-core investments and $200m to core.
Specifically, the pension fund is considering a $150m commitment to BlackRock Global Infrastructure Fund IV, along with $50m for the fund’s co-investment vehicle.
Last year, IPE Real Assets reported that BlackRock had raised $4.5bn for the infrastructure fund and was targeting $7.5bn in total. According to CRPTF, the fund has a capital-raising limit of $10bn.
CRPTF’s pacing plan for real estate says the pension fund will focus exclusively on non-core investments this year.
It will consider commingled funds and co-investments, as well as real estate investment trusts on a tactical basis, depending on market conditions.
Another $200m of commitments is being considered for natural resources.
CRPTF could also expand its existing real assets co-investment fund with Morgan Stanley Investment Management.
The pension fund is considering awarding a new $200m allocation to the CT Real Assets Co-Investment Fund, which received an initial commitment of $375m in February 2021.
The new capital could be invested in a mixture of real estate, infrastructure and natural resources.