City of Hartford Plans $22M in Commitments to PE for 2025

The City of Hartford Municipal Employees’ Retirement Fund is looking to make $22M in potential commitments to private equity for 2025 to maintain its 11% annual policy target.

The Connecticut pension’s staff and consultant NEPC recommended the amount during a commission meeting on November 22, with the 2025 NAV projected to be at 11.6% of the portfolio according to a commitments and allocation projection calculated over a 10-year period from March 31. The same amount of target commitments against the same 11% policy target is also recommended for 2026, with a proposed increase of target commitments to $24M by first quarter of 2027.

Hartford currently has private equity exposure of $199.8M, representing 17.8% of NAV plus uncalled capital. Buyouts account for 76.5% investments in the private equity sleeve, followed by growth funds at 11.8%, secondaries at 6.6%, and venture capital at 5%.

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