Indiana Public Retirement doles out $345 million
By Rob Kozlowski | December 21, 2012 2:19 pm
(updated with correction)
Indiana Public Retirement System, Indianapolis, hired Disciplined Growth Investors to run $175 million in active midcap growth equities, according to a report to trustees of the $26.6 billion pension fund.
Also, $75 million was committed to real estate fund Stockbridge Smart Markets Fund, managed by Stockbridge Capital Group and up to $50 million to private equity fund Mill Road Capital II.
Also, the pension fund invested an additional $45 million with global macro manager Brevan Howard. The pension fund's initial investment with the manager in October 2009 was $50 million.
Separately, Wells Capital Management, which ran $242 million in active domestic midcap growth equity, was terminated. Spokesman Jeffrey Hutson wrote in an e-mail that the termination was due to a new asset allocation.
The pension fund also announced it would redeem its $31 million investment in hedge fund-of-funds Blackstone Resources Select Fund. The pension fund said in its report “the strategy was not an appropriate fit for INPRS' long-only commodities portfolio.”