INPRS agrees to $500m in commitments

The US public pension has backed four private debt vehicles.

Institution: Indiana Public Retirement System
Headquarters: Indianapolis, United States
AUM: $37.03n
Allocation to alternatives: 19.0%
Bitesize: $100-200m

Indiana Public Retirement System has approved $500 million worth of private debt commitments, a contact at the pension informed Private Debt Investor. The commitments comprise of $100 million to KKR Real Estate Credit Opportunities II and $400 million across three separate accounts managed by Intermediate Capital Group.

$100 million apiece is being allocated to senior debt-focused and real estate lend and leasing-focused accounts respectively, with a final $200 million directed towards a revolving credit facilities-focused debt vehicle.

The $37.03 billion US public pension has a 0.9 percent allocation to private debt.

As illustrated below, the four aforementioned commitments are INPRS’ sole contributions to 2019-vintage private debt vehicles. The pension previously committed to three 2018-vintage vehicles, which combined constituted $390 million.

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