INPRS approves $275m in commitments

The US public pension has backed three real estate vehicles.

Institution: Indiana Public Retirement System
Headquarters: Indianapolis, United States
AUM: $37.03n
Allocation to alternatives: 19.0%
Bitesize: $50-100m

Indiana Public Retirement System has agreed to $275 million worth of real estate commitments, a contact at the pension informed PERE. The commitments comprise of $100 million to KKR Real Estate Credit Opportunities Partners II, $75 million to Prologis’ open-ended Targeted US Logistics Fund and $100 million to an Intermediate Capital Group-managed separate account focusing on lend and leaseback strategies.

The $37.03 billion US public pension has a 7.0 percent target allocation to real estate that currently stands at 6.30 percent.

As illustrated below, INPRS has made six commitments to real estate vehicles with a 2018 or 2019 vintage, which combined constitute $450 million.

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