Constellation Adds Hartford Investment Management to Institutional Consortium

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Hartford Investment Management Co. has been added to Capital Constellation, a consortium of institutional asset owners in Europe, North America and the Persian Gulf.

HIMCO has also joined Constellation’s strategic committee, Constellation said in a statement Tuesday.

Constellation, which was founded in 2018 by alternative investment manager Wafra, “brings together the expertise and capital base of leading institutional investors around the world with promising growth-oriented alternative asset managers”, says the communicated.

Managed by Wafra, Constellation and its affiliated entities have since grown into a multi-billion dollar investment platform, with investments in alternative asset managers in North America and Europe, the statement added.

The consortium has invested in “a few dozen” alternative asset managers, a Constellation spokeswoman said by email, including Broad Sky Partners, All Seas Capital Partners, Astra Capital Management, Avista Capital Partners, Ara Partners, Motive Partners, Pollen Street Capital and Post. Road group.

Daniel Adamson, Constellation’s chairman and chairman of the strategy committee, said in an interview that he views HIMCO, part of a leading insurer, as an asset owner because they are a “long-term manager of the capital” as are the other members of the consortium.

HIMCO is now the ninth member of the consortium, according to Adamson. The other eight members include the Public Social Security Institution, a public pension fund in Kuwait; Alaska Permanent Fund; Railpen, a British pension fund; New York State Joint Retirement Fund; Swedish pension fund AP3; Orange County Employees Retirement System; The Kuwait Fund, a Kuwaiti state agency focused on international development; and the Kuwait Investment Authority, Kuwait’s largest sovereign wealth fund. Wafra belongs to the Public Social Security Institution.

Constellation’s asset-owning partners have approximately $1.5 trillion in aggregate assets under management.

Constellation did not disclose the asset size of HIMCO’s commitment.

“Our partners are spread across three continents, and they vary in size and specialty,” he said. “We wanted that kind of diversity so we had different perspectives that contribute to value creation and deal flow.”

Mr Adamson said Constellation was delighted to partner with HIMCO because of its “intelligence and entrepreneurial, collegial culture”.

Based in New York, Wafra managed assets and liabilities of approximately $33 billion as of March 31.

Based in Hartford, Conn., HIMCO had approximately $116 billion in assets under management as of May 31, across bond, alternative and equity markets.

HIMCO could not be reached for further comment.

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