The Indiana Public Retirement System (INPRS) has selected alternative asset manager The Carlyle Group and AlpInvest Partners to manage a new USD150m fund, Indiana Investment Fund II (IIF-II).
The fund will invest in a diversified, high-quality portfolio of Indiana-based direct investments, co-investments and fund commitments.
Carlyle and AlpInvest have opened an office in Indianapolis to serve as base of operations for the new partnership with INPRS.
David M Rubenstein (pictured), co-chief executive of The Carlyle Group, says: "We are grateful to receive this important investment mandate and excited to expand the relationships that we’ve fostered for the past ten years with Indiana’s pension system. We believe that Carlyle and AlpInvest form a powerful investment platform that will work well for Indiana’s public pensioners."
Steve Russo, executive director, Indiana Public Retirement System, says: "By investing capital here in Indiana, INPRS achieves the dual goal of targeting premium rates of returns while nurturing Hoosier entrepreneurs and their businesses. We are impressed with the track record and expertise of the Carlyle-AlpInvest partnership and are confident it will serve us well."
Volkert Doeksen, chairman and managing partner of AlpInvest, says: "We are pleased to have the opportunity to partner with Indiana’s pension system. We will harness Carlyle’s global network and direct investment expertise in conjunction with AlpInvest’s worldwide primary and secondary funds and co-investment relationships as we invest the hard-earned dollars of Indiana’s public pensioners. We are also pleased that Curt Rossman has joined us and is well positioned to get this new investment platform running smoothly."
