On May 13, 2026, Treasurer Erick Russell announced significant investment commitments during a meeting of the Investment Advisory Council (IAC) in Hartford, Connecticut. This announcement emphasizes the Office of the Treasurer’s strategy of maintaining a diversified and disciplined investment plan for the Connecticut Retirement Plans and Trust Funds (CRPTF).
Treasurer Erick Russell’s Investment Commitments Exceed $1.7 Billion
During the IAC meeting, Treasurer Russell stated, “These commitments reflect a continuation of our disciplined and diversified approach to long-term investing.” He noted the importance of safeguarding retirement security for teachers and state workers while alleviating fiscal pressure on Connecticut’s taxpayers. The recent commitments are a testament to this focus amid prevailing economic and geopolitical uncertainties.
Breakdown of Investment Commitments
The following investment commitments were approved:
- Private Equity:
- $200 million to LLCP Lower Middle Market Fund IV, L.P.
- €150 million to Inflexion Buyout Fund VII Limited Partnership
- €70 million to Inflexion CT Co-Investment Limited Partnership
- $300 million to JFL Equity Investors VII, LP
- Private Credit:
- $175 million each to Hamilton Lane Credit Income Private Fund LP and CRPTF-Hamilton Lane Credit Sidecar, L.P.
- $250 million to JFL Credit Opportunities Fund II, L.P.
- Real Estate:
- $200 million to Smart Markets Fund, L.P.
- Infrastructure and Natural Resources:
- $150 million additional capital to AxInfra NA II, LP.
Additional Council Activities
The IAC also conducted strategic reviews of Fixed Income and Public Equities asset classes. They discussed further investment opportunities across private market assets. Other agenda topics included deliberating the fiscal year budget, scheduling proposed IAC meetings for 2027, and potential compensation adjustments for PFM personnel.
The IAC is critical in shaping Connecticut’s investment policy and asset allocation. Its members include representatives from unions, legislative leaders, and the Governor, thereby reflecting a broad spectrum of stakeholder interests.
About the Office of the Treasurer
The Office of the Treasurer focuses on managing Connecticut’s financial resources responsibly. It oversees six state pension and twelve state trust funds, enhancing fiscal stability through various programs. Under the leadership of Treasurer Erick Russell, who is notable for being the first Black out LGBTQ person elected to statewide office in the U.S., the office is committed to promoting financial literacy and supporting social priorities.
For further information, visit El-Balad’s coverage of the Treasurer’s initiatives or contact Brett Cody at (959) 529-2468.
