Connecticut Flags $600M-$800M Infra Push; LA Deferred Comp Preps $1.2B RFP

Connecticut Retirement Plans and Trust Funds recommended a tilt toward smaller and middle-market managers in private equity and private credit, a pause on new real estate commitments through 2026, and $600M–$800M in new 2027 infrastructure commitments favoring energy transition and digital infrastructure. The plan also took in a $1.304B "volatility" transfer from excess state revenues under Connecticut's fiscal guardrail statute.

Among other allocators, Contra Costa County Employees' Retirement Association set a $90M infrastructure pacing target for 2027; the City of Los Angeles Deferred Compensation Plan board directed staff to prepare an RFP for its $1.2B stable value fund, currently managed by Galliard Capital Management under a contract expiring December 31; and Ontario Teachers' Pension Plan set an objective to invest an additional $7.2B in Canada by the end of next year..

On the GP fundraising side, CVC Capital Partners set an initial €26B target for Europe/Americas Fund X, with formal marketing beginning in January 2027 following predecessor Fund IX's €27.3B close in 2023; PSG Equity closed PSG Europe III at more than €4.4B, roughly 70% larger than its predecessor and above its original €3.25B target; and ICG is targeting €15B for its sixth European direct lending vehicle, Senior Debt Partners VI, following the €15.2B close of its predecessor in 2024.

Elsewhere, TIFF Investment Management co-CIO Trevor Graham said on the Dakota Live! podcast that three screening tests – durability of competitive advantage, alignment with LPs, and incremental portfolio value – eliminate 99% of inbound manager pitches before formal diligence, with no minimum AUM or track record required for managers that clear the bar.

Read on for all the day’s fundraising news headlines.

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