Connecticut Retirement Plans & Trust Funds has appointed two new managers for its core real estate separate accounts, Pensions & Investments reports. American Realty Advisors will be managing a new separate account with an initial commitment of $150 million, while Hart Realty Advisors will assume $156 million.
AEW Capital Management was the previous manager of the $156 million mandate. Invesco Real Estate was the other semi-finalist and AEW was also invited to rebid. The Hartford-based fund began the search for the managers in December last year.
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