Firms & Funds

Connecticut considers $75 mln commitment to Clearlake

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Connecticut Retirement Plans and Trust Funds, private equity, venture capital, pension fund
Fayerweather Island, Black Rock Harbor, Bridgeport, Connecticut, lighthouse. Christian Prohaska/iStock/Getty Images
  • AUM: $34.3 bln
  • PE actual: 6.7 pct
  • PE target allocation: 11 pct
  • Contact: Steven Jensen at Steve.Jensen@ct.gov

Connecticut Office of the State Treasurer said at its May meeting that it was considering backing Clearlake Capital Group’s latest flagship fund.

The system may make a $75 million commitment to Clearlake Opportunities Partner II fund, which makes opportunistic credit investments in North American middle-market companies and focuses on structured and distressed equity.

State Treasurer Shawn Wooden will disclose a decision at the next board meeting, in June, the system’s communications director, Steve Jensen, told Buyouts.

Connecticut also approved a $125 million commitment to Welsh, Carson, Anderson & Stowe’s 13th fund, Jensen said.

WCAS XIII, targeting $3.75 billion with a $4 billion hard cap, invests in healthcare and technology in North America, Buyouts reported.

Connecticut has a PE allocation of $2.7 billion, according to its 2018 annual report.