Indiana PRS backs Blackstone and Bain Capital

Institution: Indiana Public Retirement System
Headquarters: Indiana, US
AUM: $45.28 billion
Bitesize: $50 million-$100 million

Indiana Public Retirement System has approved two commitments totaling to $150 million, following their September board meeting. $50 million was committed to Bain Capital Real Estate Co-invest fund and $100 million to Blackstone Real Estate Partners X.

Bain Capital‘s co-investment vehicle currently has a fund size of $50 million. The vehicle will invest in opportunistic real estate deals across the broader Bain Capital Real Estate platform.

Blackstone‘s 10th flagship fund has a fund size of $24.1 billion, just shy of its target, $25 billion. It has raised capital from public pension funds and government related organizations based in the US. The fund will continue the firm’s opportunistic strategy, making diversified investments in opportunistic real estate and real estate-related investments primarily in the US and Canada.

Both Bain Capital and Blackstone have existing established investment relationships with Indiana PRS.

The $45.28 billion public pension currently allocates 7.6 percent to real estate, as illustrated below. Its recent fund commitments have been heavily based in North America.

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