Connecticut confirms $100m commitment

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $41.07 billion
Allocation to alternatives: 19.2%

Connecticut Retirement Plans and Trust Funds has approved a $100 million commitment to BlackRock‘s Global Renewable Power Fund III, a contact at the pension informed Infrastructure Investor.

Connecticut’s March 2021 investment advisory council meeting packet revealed that BlackRock’s third dedicated renewables vehicle had raised $3.7 billion from investors by mid-March, with an imminent final close expected at between $4 billion and $4.5 billion.

The $41.07 billion US public pension invests in infrastructure out of its real assets portfolio, which comprises 11 percent of Connecticut’s full investment portfolio.

As illustrated below, Connecticut’s recent infrastructure commitments have predominantly targeted global diversified vehicles, with managers such as I Squared Capital and Global Infrastructure Partners receiving sizeable allocations.

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