TREASURER ERICK RUSSELL ANNOUNCES MORE THAN $1.7 BILLION IN INVESTMENT COMMITTMENTS

05/13/2026

Hartford, Connecticut – Treasurer Erick Russell today announced several new investment commitments approved during the May meeting of the Investment Advisory Council (IAC), reflecting the Office of the Treasurer’s continued focus on maintaining a diversified and disciplined investment strategy for the Connecticut Retirement Plans and Trust Funds (CRPTF).

“These commitments reflect a continuation of our disciplined and diversified approach to long-term investing,” said Treasurer Russell. "Faced with increasing economic and geopolitical uncertainty, we remain focused on ensuring the retirement security of our dedicated teachers and state workers, while reducing the burden on Connecticut’s taxpayers.”

At today’s IAC meeting, Treasurer Russell announced the following investment commitments discussed during the last IAC meeting:

• In private equity, the Treasurer committed up to $200 million to LLCP Lower Middle Market Fund IV, L.P., up to €150 million to Inflexion Buyout Fund VII Limited Partnership, up to €70 million to Inflexion CT Co-Investment Limited Partnership, and up to $300 million to JFL Equity Investors VII, LP.
• In private credit, the Treasurer committed up to $175 million each to Hamilton Lane Credit Income Private Fund LP and CRPTF-Hamilton Lane Credit Sidecar, L.P.; and up to $250 million to JFL Credit opportunities Fund II, L.P.
• In real estate, the Treasurer committed up to $200 million to Smart Markets Fund, L.P.; and
• In infrastructure and natural resources, the Treasurer committed up to $150 million additional capital to AxInfra NA II, LP.

The Council also received Fixed Income and Public Equities asset class Strategic Reviews and reviewed additional investment opportunities across the private markets’ asset classes. Other agenda items included a fiscal year budget discussion, proposed 2027 IAC meeting dates, consultation of potential compensation adjustments for PFM personnel, and reports from the IAC subcommittees.

 

The IAC shares responsibility for Connecticut’s investment strategy and performance. Its members are appointed by unions representing teachers and state workers, 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 agendas, minutes and investment presentations, are available on the Office of the Treasurer’s website: Investment Advisory Council.

 

About the Office of the Treasurer

The Office of the Treasurer is charged with safeguarding Connecticut’s financial resources through prudent cash management and debt management, with the State Treasurer serving as principal fiduciary for six state pension and twelve state trust funds. Additionally, the Office enhances the state’s fiscal stability through programs promoting financial literacy and college savings, and it leverages business partnerships to support the advancement of Connecticut’s social and policy priorities, including combating gun violence and protecting our environment. The Office of the Treasurer is led by State Treasurer Erick Russell, the first Black, out LGBTQ person to win an election for statewide office in American history. To learn more, visit portal.ct.gov/ott.

Contact: Brett Cody
brett.cody@ct.gov | (959) 529-2468