In-state investments by the Connecticut Retirement Plans and Trust Funds totaling more than $400 million are generating solid investment returns, state Treasurer Denise Nappier said.
Overall, said Nappier, the funds have invested $432.6 million in private equity and real estate in Connecticut over the past 15 years.
"This is by no means an altruistic policy; it's about making prudent investment decisions," said Nappier, just elected to her fifth term.
The value of investing in Connecticut is codified in the funds' investment policy statement and endorsed by the independent Investment Advisory Council, she said. Two recent acquisitions are by RFE Investment Partners of Newington-based PCX Aerostructures LLC, and by Hart Realty Advisers of the Storrs Center in Mansfield.
The funds have invested roughly $235 million in Connecticut-based companies since 1999 through its private equity managers. These investments have returned $1.60 for every $1 invested by the CRPTF, said Nappier.
For the same time period, the CRPTF, through its real estate fund, has invested about $197.6 million in Connecticut. The Connecticut real estate investments have returned $1.40 for every $1 invested, on average, Nappier said.
Overall, for the 12 months ended June 30, the private investment fund returned 16.1% and the real estate fund posted a 10.7% investment return.
