Investors - APRIL 28, 2015

Indiana commits $200m to real estate and energy

by Zoe Loza

The Indiana Public Retirement System has committed $200 million to three funds investing in real estate and energy; the decisions were made at its April 24 board meeting, according to Jennifer Dunlap, public information specialist for the pension fund.

The $34.4 billion pension fund committed $75 million to Blackstone Real Estate Partners VIII, $50 million to Abacus Multifamily Partners III and $75 million to EnCap Energy Capital Fund X.

BREP VIII is the largest real estate mega-fund of 2015, having raised more than $15 billion so far; recent investors have included Maine Public Employees Retirement System, New Jersey Division of Investment, San Francisco Employees’ Retirement System, Connecticut Retirement Plans and Trust Funds, Teachers’ Retirement System of the State of Illinois, Ohio Police and Fire Pension Fund, New Mexico State Investment Council, Illinois Municipal Retirement Fund, Teachers’ Retirement System of Louisiana, Minnesota State Board of Investment and Pennsylvania Public School Employees’ Retirement System. The fund, which is managed by The Blackstone Group, focuses on distressed, out-of-favor and undermanaged properties.

EnCap Energy Capital Fund Xis seeking to raise $5 billion and will provide growth capital to management teams that focus primarily on the upstream sector of North America’s oil and gas industry. Recent investors include the Minnesota State Board of Investment, the Illinois Municipal Retirement Fund, the Oklahoma Police Pension & Retirement System, the Maine Public Employees Retirement System, the Teachers’ Retirement System of Louisiana, the Kansas Public Employees Retirement System and the Rhode Island State Investment Commission.

Abacus Multifamily Partners III is a value-added fund focused on apartment properties in the United States. Sponsored by Abacus Capital Group, the fund is targeting an equity fundraise of $400 million. Investors include the Employees Retirement System of Texas and the Texas Municipal Retirement System.


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