Connecticut pension commits to ICG, SVP funds targeting more $12.5bn of capital


The $43.7bn-managing Connecticut Retirement Plans and Trust Funds has picked a pair of funds eyeing a total of $12.5bn as its latest alternative assets commitments.

CRPTF’s investment advisory council voted unanimously to make a €150m commitment to ICG Europe Fund VIII, and another $150m to Strategic Value Special Situations Fund V.

ICG is reportedly eyeing up to $8.5bn for its latest debt fund according to a Wall Street Journal report from May – a huge rise compared to its $5.5bn predecessor in the strategy.

AltAssets revealed last month that ICG had picked up $750m from pension giant NYSCRF for its ICG Excelsior vehicle, a fund of one that will initially focus on ICG’s European subordinated debt and equity and strategic equity strategies.

Strategic Value Partners is looking to raise up to $4bn for Special Situations Fund V, targeting distressed dealmaking amid the fallout from the coronavirus pandemic.

It closed Fund IV on its $2.85bn hard cap in 2018.

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