Indiana Public Employees Retirement Fund, Indianapolis, is searching for private equity managers to invest the $300 million to $400 million the fund plans to commit annually over the next four years, said Shawn D. Wischmeier, CIO. The $14.5 billion fund needs to commit at that level each year to reach its target private equity allocation of 4% of total assets, accounting for maturing investments and other factors, he said. The fund has made a total of $425 million in private equity commitments, including $225 million this year, he said. "Private equity deals are being sourced by PERF staff and its consultant," Strategic Investment Solutions, Mr. Wischmeier said. "We're actively looking all the time." No RFP is being issued. Interested managers can contact PERF.
"Funding will come from the PERF's broader portfolios," he said. "We're not going to liquidate anything specifically to fund drawdowns" for private equity commitments.
"We're not here to time the market," he said. "We layer our investments over a four-year period to help make sure we don't invest it all in one year and expose ourselves to the market being good or bad."
