Indiana Public Employees Retirement Fund, Indianapolis, plans to search for alternative investment managers after it decides whether to hire an alternative investment consultant. Officials for the $11 billion fund might decide by the end of the year to hire Strategic Investment Solutions to assist in implementing its alternative investment program, but if they dont choose SIS, the fund might search for another firm.
The fund had retained SIS earlier on a project basis to assist in alternative investment education and developing a policy statement.
The fund adopted an alternatives policy target of 5% of total assets, said Patricia Gerrick, chief investment officer. The fund will split that allocation 17.5% in venture capital, 42.5% buyouts, 10% debt-related investments, 5% absolute-return strategies, 5% REITs, 10% opportunistic real estate, and 10% international.