Indiana Public Retirement System, Indianapolis, disclose new manager hires and commitments totaling $375 million for its $38.3 billion defined benefit plan.
The system disclosed in materials for its Dec. 8 board meeting that it had hired Barings to manage a $200 million separately managed account to invest alongside the Barings Global Private Loan Fund series.
The series seeks to lend to middle-market companies in Australia/New Zealand, Europe and North America, according to the materials.
As of Oct. 31, the pension plan's actual allocation to private markets was 17.3%.
Within real assets, the retirement system committed $100 million to Ambrose Co-Investment Fund, a real estate co-investment fund managed by Ambrose Property Group that will invest alongside Ambrose Fund IV.
INPRS committed $100 million to Ambrose Fund IV, an opportunistic equity industrial fund, earlier in 2023.
As of Oct. 31, the DB plan's actual allocation to real assets was 8.9%.
Within fixed income, INPRS committed $75 million to OHA Structured Products Fund III.
Managed by Oak Hill Advisors, the fund aims to invest opportunistically in collateralized loan obligation debt and equity tranches in the U.S. and Europe, primarily in the secondary market.
INPRS previously committed $80 million to OHA Structured Products Fund II in 2020.
As of Oct. 31, the pension plan's actual allocation to fixed income (ex-inflation linked) was 13%.
