Indiana Public Retirement System, Indianapolis, made commitments totaling $385 million for its $34.8 billion defined benefit plan, the retirement system disclosed in an investment report included with materials for its board meeting Friday.
The system disclosed commitments of $100 million each to 352 Capital Fund, a private markets fund that seeks to structure a portfolio of consumer-oriented asset-based securities; Hamilton Lane Equity Opportunities Fund V-A, a private equity fund that makes buyout, growth and co-investments in small and midsize companies; and private credit fund Pathlight Capital Fund II.
INPRS previously committed $100 million to Pathlight Capital Fund I in 2019. Hamilton Lane and 352 Capital are new managers for the retirement system.
The system also committed $60 million to Stride Consumer Fund I, a lower middle-market buyout fund, and $20 million to Stride Consumer Fund I Coinvest, which will invest in select deals alongside the other fund. Both are managed by Stride Consumer Partners, a new manager for the retirement system.
Finally, the system committed $5 million to Samson Brunello 1, which holds the system's rolled interest in an investment previously held in Hellman & Friedman Capital Partners VII.
As of March 31, the DB plan's actual allocation to private markets was 13.3%.
