Institution: Indiana Public Retirement System
Headquarters: Indianapolis, United States
Allocation to alternatives: 36.70%
Indiana Public Retirement System (INPRS) has agreed to commit $175 million to two real estate funds, according to documents from the pension’s February Board meeting.
These commitments include $100 million to Carlyle’s open-ended Property Investors fund and $75 million to Blackstone Real Estate Partners IX. Carlyle’s Property Investors fund is focused on core-plus investments in North America, whereas Blackstone’s ninth fund in the series is focused on opportunistic investments globally.
The $34.29 billion US public pension has a 7.0 percent target allocation to real estate which currently stands at 6.30 percent.
As illustrated in the charts below, INPRS tends to commit to real estate funds with varying strategies. The pension has historically committed to core-plus, value-add and opportunistic funds with a North American focus.
Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.