INPRS approves $130m in commitments

The US public pension backed a pair of PE funds at its February 2020 board meeting.

Institution: Indiana Public Retirement System
Headquarters: Indianapolis, United States
AUM: $38.19bn
Allocation to alternatives: 18.2%
Bitesize: $50-100m

Indiana Public Retirement System has approved $130 million-worth of private equity commitments across two funds, a contact at the pension informed Private Equity International.

The commitments comprise of $75 million to Bregal Sagemount III and €50 million ($55 million) to BlackFin Financial Services Fund III. Bregal Investments’ fund is focused on the growth equity space, whereas BlackFin Capital Partners’ vehicle focuses on continental European buyouts.

The $38.19 billion US public pension has a 10.0 percent target allocation to private equity that currently stands at 10.90 percent.

As illustrated below, INPRS has made eight commitments to private equity funds with a 2019 vintage, which combined constitute $637.5 million.

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