Indiana Public Retirement System Commits $600M to Alternatives; Terminates Two Managers

The Indiana Public Retirement System had made up to $600 million in alternative investment commitments, according to materials from the September 9 board meeting.

Real Estate

$50 million was committed to opportunistic real estate fund, Bain Capital Real Estate Co-invest Fund. $100 million was allocated to the Blackstone Real Estate Partners X fund. Additionally, core real estate fund, ICG Sale Leaseback was given a $100 commitment.

Infrastructure

$100 million was approved for the ICON Infrastructure Partners VI fund. 

Private Credit

$100 million was committed to direct lending fund, Pathlight Capital Fund III. A second direct lending fund, Silicon Valley Bank Capital Innovation Credit Growth Fund IX, was also given a $150 million commitment.

Terminations

Materials from the meeting disclosed two terminations. The multi-asset fund managed by King Street was terminated. The value of the account at time of termination was $88 million. The Hudson Bermuda Fund was also terminated. The account was valued at $158 million at time of termination.

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Written By: Koncheng Moua, Director of Data Management and Strategy

Koncheng Moua is the Director of Data Management and Strategy at Dakota.

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