# State of Connecticut Retirement Plans and Trust Funds

State of Connecticut Retirement Plans and Trust Funds is a Pension Fund based in Hartford, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Hartford, United States
- **Region:** North America
- **Address:** Hartford, CT, United States
- **Assets under management:** $50B - $75B (Altss estimate)
- **Website:** portal.ct.gov/ott/pension-funds/overview
- **LinkedIn:** https://www.linkedin.com/company/connecticut-retirement-plans-trust-funds

## Regulatory record

- **Reports private funds:** No

## About

The State Treasurer's Office administers the State of Connecticut Retirement Plans and Trust Funds (CRPTF). Its Pension Funds Management Division executes investment programs for six State Pension Funds and nine State Trust Funds. The State Treasurer manages invested assets for approximately 212,000 state and municipal employees, teachers, retirees, and beneficiaries as principal fiduciary.

## Sectors

- Real Estate
- Infrastructure
- Private Credit
- Hedge Funds
- Secondaries & Special Situations
- Energy Transition & Renewables
- Venture (General)
- Buyout
- Distressed Debt

## People

- Erick Russell — State Treasurer and Principal Fiduciary
- Ted Wright — Chief Investment Officer
- Philip Zecher — Chair of the Investment Advisory Council

## Questions

### Who holds the ultimate investment authority at CRPTF?

The State Treasurer acts as the principal and sole fiduciary for the Connecticut Retirement Plans and Trust Funds. This structure centralizes all investment discretion in the Treasurer's office. The Investment Advisory Council, chaired by Philip Zecher, reviews and approves policies and major commitments but serves in an advisory capacity to the Treasurer.

### What is the fund's approach to accessing private markets?

CRPTF employs a hybrid model, combining staff-led investment activity with fund commitments to external managers. The portfolio includes direct partnerships in vehicles like the Short-Term Investment Fund (STIF) and renewable energy credits. For private market exposure, the fund commits heavily to outside sponsors, with recent commitments including Artemis Real Estate Partners Healthcare Fund III and Penwood Select Industrial Partners VII.

### Which asset classes does CRPTF target for its portfolio?

The fund maintains a diversified spread across real estate, infrastructure, natural resources, private credit, and venture capital. Real estate commitments span commercial, industrial, residential, healthcare, and mixed-use sectors through managers like Carlyle and Cityview. Other allocations flow into distressed debt, secondaries, buyouts, and global infrastructure platforms such as I Squared Global Infrastructure Fund II.

### How does the governance of CRPTF differ from other large public pensions?

Unlike many large state pensions managed by independent boards, Connecticut places full fiduciary authority with the elected State Treasurer. This sole-trustee model concentrates investment policy decisions in one office, supported by an advisory council. The framework directly links electoral outcomes to asset allocation and manager hiring.

### Does CRPTF participate in co-investments alongside its fund commitments?

The fund's stated strategy includes co-investments alongside its primary fund allocations. Executed directly through the office of the CIO, this approach allows CRPTF to increase exposure to specific assets identified by its external managers. The program supplements traditional commingled fund commitments rather than operating as a standalone direct investing arm.

## Related profiles

- [State of New Jersey](https://altss.com/profile/state-of-new-jersey)
- [Public School Retirement System of Missouri](https://altss.com/profile/public-school-retirement-system-of-missouri)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/state-of-connecticut-retirement-plans-and-trust-funds

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology