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Indiana Public Retirement allocates $444 million to 6 managers

Indiana Public Retirement System, Indianapolis, invested a combined $300 million with three absolute-return managers and made commitments totaling $144 million to three private equity funds, according to documents from the $31 billion system's board meeting Friday.

In absolute return, the system invested $150 million in Man AHL, a systematic managed futures hedge fund; $100 million to Garda Capital Partners to manage in private fixed income; and $50 million to Pharo Management to run in the Pharo Gaia Fund, an emerging markets macro fund.

In private equity, the pension fund committed $75 million to Veritas Capital Fund VI, a technology fund managed by Veritas Capital Fund Management; $50 million to Bregal Sagemount II-B, a growth equity fund managed by Bregal Investments; and $19 million to GSO Capital Opportunities Fund III, a mezzanine fund managed by GSO Capital Partners.

The system had 9.1% of assets in absolute return and 13% in private equity as of Jan. 31.