Indiana State Teachers' Retirement Fund, Indianapolis, hired TA Associates to run $150 million in real estate, said C. Philip Barnes, assistant chief investment officer for the $3.37 billion fund. It will fund the new manager as it makes investments, he said; no funding is expected until the first quarter. TA uses a value-added style, producing return from both income and appreciation, he added.
Assets will come from a reallocation from fixed income, which is 39% of the fund. All fixed-income manages will be retained.