Indiana PERF adds real estate investments

Indiana Public Employees’ Retirement Fund, Indianapolis, committed up to $300 million total to four real estate managers, according to Jeffrey D. Hutson, director of communications of the $17.2 billion fund. Prudential Real Estate Investors and Morgan Stanley Real Estate got commitments of up to $100 million each for U.S. open-end core programs. Invesco and European Investors received respective commitments of up to $60 million and $40 million for global REITs. Funding will come from a reallocation of the overall fund as commitments are drawn, Mr. Hutson said. Mercer assisted with the searches. The commitments are the result of an RFP issued last fall.