INPRS expands commitment to HPS-managed account

Indiana pension fund alotts an additional $250m to a separately managed credit account.

Name: Indiana Public Retirement System
Headquarters: Indianapolis, Indiana
AUM: $46.34 billion
Allocation to alternatives: 27%

Indiana Public Retirement System has recently expanded an existing separately managed account with HPS Investment Partners.

INPRS committed $250 million to INPRS/HPS Brickyard Direct Lending SMA, according to materials from the pension system’s February investment meeting. The fund will provide speciality direct and senior loans to upper mid-market private companies.

INPRS had previously committed $200 million to the 2018-vintage separate vehicle. The public pension allocates 4.5 percent of its portfolio to private credit, amounting to $2.08 billion in capital.

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