Connecticut PPIP Fund Gets Ready to Roll
The Connecticut Retirement Plans and Trust Funds last week received four presentations on behalf of AllianceBernstein, Invesco’s W.L. Ross & Co., Marathon Asset Management and Wellington Management Co., according to published reports. The firms are all looking to manage part or all of the state’s $200 million Public-Private Investment fund.
AllianceBernstein, Marathon and Wellington are looking to oversee a combined $150 million in the fund’s value-added real estate portfolio.
Meanwhile, Invesco is expected to handle the remaining $50 million in an opportunistic fund that is expected to return 20% a year from a fund, according to market reports.
Treasurer Denise Nappier is expected to make a decision on the PPIP investment before Sept. 30, when the asset managers are expected to close their first round of fundraising, according to published reports.
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