Indiana PRS Invest $180M to Private Equity, Private Credit; Hire International Equity Manager

The Indiana Public Retirement System (INPRS) has approved private equity and private credit commitments totalling $180 million in addition to hiring a new international equity manager, per meeting materials from the June 21 board meeting.

In private equity, $30 million was allocated to Project Compass in a co-investment opportunity alongside Veritas Capital. This is a new relationship for INPRS.

A $150 million investment was allocated to private credit fund Apollo Origination Partnership II. The investment is a direct-lending strategy focused on lending to large corporate borrowers in North America and Western Europe. 

In addition, Acadian was hired for a $315 million mandate in the Acadian ACWI ex-US ex-China strategy. The new relationship with the core equity style manager is a result of an International Equity RFP.

As of April 30, the Retirement Fund was valued at $48 billion. 

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Written By: Jane Bailey, Marketing Associate

Jane Bailey is a Marketing Associate at Dakota.