Institution: Indiana Public Retirement System
Headquarters: Indianapolis, United States
Allocation to alternatives: 36.70%
Indiana Public Retirement System (INPRS) has agreed to commit $296.25 million to four private equity vehicles, according to documents from the pension’s February Board meeting.
These commitments include $90 million to Crescent European Specialty Lending II, $85 million to Sumeru Equity Partners Fund III, a further $21.25 million SEP-Heartland Fund III Co-Invest and $100 million to TSSP Adjacent Opportunities Partners. The $100 million commitment to TPG’s open-ended Adjacent Opportunities Partners vehicle is made up of two smaller commitments to the ‘B’ and ‘D’ sub-vehicles of the fund.
The $34.29 billion US public pension has a 10 percent target allocation to private equity which currently stands at 12.5 percent.
As illustrated in the charts below, INPRS has made nine commitments to private equity funds with a 2018 vintage, totalling $601 million.
Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.