The Connecticut pension fund will invest as much as $100 million in another partnership organized by the private equity and hedge-fund giant Blackstone Group, a top aide to state Treasurer Denise L. Nappier said Wednesday, The Manchester Journal Inquirer reports.
Christine Shaw, the treasurer’s director of government relations, said Nappier is negotiating the pension fund’s contract with “Blackstone Real Estate Situation Fund II,” a new $2 billion fund focused on “distressed” commercial real estate and debt.
The deal would be the pension fund’s fifth with the controversial New York-based firm and comes as treasury officials already were working on the terms of a contract with a Blackstone fund that invests in hedge funds.
The pension fund previously committed $50 million to a different Blackstone real-estate partnership in 2008 and $100 million to yet another Blackstone real-estate entity in 2007.
The Connecticut fund also committed $30 million to a Blackstone buyout fund in 1997.
