Indiana Public Retirement System, Indianapolis, committed a total of $395 million on behalf of its $40.4 billion defined benefit plan, an investment report included with Dec. 9 board meeting materials showed.
In its private markets asset class, the system committed $125 million to 400 Capital Asset Based Term Fund III, an opportunistic real estate structured credit fund managed by 400 Capital Management; $100 million to Kennedy Lewis Capital Partners III, and $50 million to Kennedy Lewis Capital Partners III Co-Invest Side Car, both private credit funds managed by Kennedy Lewis Investment Management.
As of Oct. 31, the DB plan's actual allocation to private markets was 13.7%.
In its real assets asset class, the system committed $50 million to DigitalBridge Co-Investment Vehicle and $20 million to KKR Project Aurora Co-Invest.
The DigitalBridge co-investment fund invests alongside its infrastructure fund series, which includes Digital Colony Partners II, to which INPRS had committed $100 million earlier this year.
The KKR & Co. co-investment fund invests alongside open-end infrastructure fund KKR Diversified Core Infrastructure Fund, to which INPRS had committed $100 million earlier this year.
INPRS also made an additional commitment of $50 million to Prologis Targeted U.S. Logistics Fund, an open-end real estate fund managed by Prologis Private Capital. INPRS originally committed $75 million in 2019.
As of Oct. 31, the DB plan's actual allocation to real assets was 6.2%.