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Indiana PRS confirms $100m commitment

The public pension has backed the fourth instance of Bregal Investments' flagship buyout fund series.

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  • Name: Indiana Public Retirement System
  • HQ: Indianapolis, United States
  • AUM: $44.89 billion
  • Allocation to alternatives: 17.1%

Indiana Public Retirement System has approved a $100 million commitment to Bregal Sagemount IV, according to materials from its June 24 Board of Trustees meeting.

Bregal Investments launched its fourth-series buyout vehicle in April 2022. In March 2020, a final close was held for the previous fund in the series, raising $1.5 billion and oversubscribed to its $1.35 billion target size. The Fund will invest in durable growth companies with high amounts of recurring revenue, focusing on generating risk-adjusted returns by providing flexible structured capital.

Indiana PRS currently allocates 12.8 percent of its investment portfolio to private equity, comprising of $5.75 billion in capital. The $44.89 billion public pension has an undisclosed target allocation to the asset class.

As illustrated below, Indiana PRS’ recent private equity commitments have tended to focus on North American buyout vehicles with a diversified investment portfolio.

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