Indiana Public Employees' Retirement Fund, Indianapolis, is looking for a general partner to create and manage a customized fund to invest in a diversified range of venture capital, private equity, buyout, direct debt and other co-investment opportunities. The $13 billion fund seeks to invest in a customized fund through a strategic relationship with a general partner, creating a special fund with Indiana PERF as the sole limited partner.
Indiana PERF could invest $200 million in the customized fund, although the amount is still "up in the air," said Jeffry S. Carter, director-external affairs. "No final decision (on the amount) has been made by the board or the senior management team at this point," Mr. Carter said. Funding would come from a reallocation, he added.
Although the customized fund would invest nationally, Indiana PERF officials also want to invest in private equity funds that make investments in Indiana-based companies to stimulate the creation and growth of Indiana business.
"We're anxious to see what vendors can come up with" in terms of the allocation and investments of the customized fund, Mr. Carter said. "We are very open on this."
Strategic Investment Solutions is assisting.