TREASURER ERICK RUSSELL ANNOUNCES $450 MILLION IN INVESTMENT COMMITMENTS AT MAY INVESTMENT ADVISORY COUNCIL MEETING

05/09/2024

TREASURER ERICK RUSSELL ANNOUNCES $450 MILLION IN INVESTMENT COMMITMENTS AT MAY INVESTMENT ADVISORY COUNCIL MEETING

HARTFORD, Connecticut- On Wednesday, State Treasurer Erick Russell met with Connecticut's Investment Advisory Council (IAC) at the State Office Building in Hartford, where he announced two commitments to the Connecticut Retirement Plans and Trust Funds (CRPTF).

He committed $200 million to Axium Infrastructure North America II, L.P., Axium Infrastructure Canada II INTL L.P., and AxInfra US II L.P. Additionally, he committed $250 million to Carlyle Realty Partners X, L.P.

The Council also heard from Meketa, General Investment Consultant, who joined Chief Investment Officer Ted Wright and Investment Officer Robert Scully to report on performance and provide an update on the capital market environment.

Principal Investment Officer Nishant Upadhyay and Investment Officer Jorge Portugal presented a Fixed Income structural review. Principal Investment Officer Denise Stake, Senior Investment Officer Olivia Wall, and Investment Officer Philip Conner provided a structure review of Real Estate.

Several investment opportunities were presented at Wednesday's meeting. Principal Investment Officer Mark Evans and Investment Officer Carmen Melaragno presented Clearlake Capital Partners VIII, L.P., Stellex Capital Partners III, L.P. and Stellex Capital Partners III Co-Investment, which are private investment fund opportunities.

Evans joined Investment Officer Kan Zuo to present Oaktree Opportunities Fund XII L.P., a private credit opportunity, and Stake, Wall, and Conner presented Artemis Real Estate Partners Income & Growth Fund II L.P. and Sterling Value Add Partners IV L.P., both real estate fund opportunities.

"As we continue to look for new ways to strengthen the portfolio and position our pension funds for long-term success, these in-depth reviews are an essential tool in evaluating substantial new investment opportunities," said Treasurer Russell. "I deeply appreciate the time and effort that goes into these meetings, and I want to express my gratitude to the IAC members as well as staff and consultants who support this necessary work."

The IAC shares responsibility for Connecticut's investment strategy and performance. Its members are appointed by unions representing teachers and state workers, as well as by legislative leaders and the Governor. The IAC plays a key role in setting the pension funds' investment policy and asset allocation, and in the hiring of key investment personnel. All IAC meetings are open to the public. Meeting materials, including past agendas and investment presentations, are available on the Office of the Treasurer's website: portal.ct.gov/OTT/About-the-Treasury/Advisory-Council.

Contact: Tyler Van Buren
[email protected] | (959) 529-2468

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