Indiana PRS Starts $1.4B Opportunistic Credit Search

The Indiana Public Retirement System (PRS) has commenced a search for two to three opportunistic credit managers with a combined mandate size of approximately $1.4B.

Indiana PRS said it is soliciting proposals for strategies that will be benchmarked against blended high-yield and leveraged loan indices, to be proposed by the manager and approved by the pension. The pension said it prefers separate account mandates, but is open to all vehicle types. The state pension’s opportunistic credit program currently carries a 2.5% weight split between two managers.

The retirement system will receive submissions until 3 pm on February 24, Eastern time. Verus is assisting in the manager search and evaluation.

Written By: Dakota

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