Indiana State Teachers Retirement Fund, Indianapolis, committed $50 million to a new Fund A of the Indiana Investment Fund, said Robert D. Newland, CIO of the $5.2 billion plan. Fund A will invest exclusively in Indiana-based private equity.
Funding will come from a reduction in fixed income and publicly traded equities over several years as money is drawn down, Mr. Newland said.
The Indiana Investment Fund was created in 2006 by $16.3 billion Indiana Public Employees Retirement Fund, Indianapolis, which invested $100 million. Credit Suisse manages it and committed $5 million to the initial fund. No additional investors will be permitted in the Indiana Investment Fund or Fund A, according to an Indiana PERF statement.