Indiana Public Employees Retirement Fund, Indianapolis, is targeting $500 million for alternative investments, pending approval of state legislation allowing the $10 billion system to move into in commingled funds and limited partnerships, said Patricia J. Gerrick, chief investment officer. "We are evaluating investment ideas now for programs that will close in the later part of the year.
The alternatives allocation will include domestic and international private equity, buyouts, absolute return strategies, distressed debt and real estate.
Also, the fund retained Strategic Investment Solutions under a one-year contract to assist in searching for and evaluating alternative managers and investment programs. The firms previous assignment of helping to educate trustees about alternatives and helping to develop an alternatives policy had ended.