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Connecticut pension fund to invest $200M in noncore real estate

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Connecticut pension fund to invest $200M in noncore real estate

Connecticut Retirement Plans and Trust Funds is looking to invest roughly $200.0 million a year in noncore real estate as it looks to balance its real estate portfolio, IPE Real Assets reported.

The pension fund's real estate consultant, The Townsend Group, said the fund is overallocated to core assets and underallocated to value-add and opportunistic assets.

In 2016, the pension fund set a 7% real estate allocation target, the publication noted.