Indiana commits $215m to real estate
The Indiana Public Retirement System has committed $75 million each to Value Fund II and Smart Markets Fund, both managed by Stockbridge Capital Group, and $65 million to Industrial Value Fund III, managed by Exeter Property Group.
The commitments were confirmed by Jennifer Dunlap, public information specialist with INPRS.
Stockbridge’s Smart Markets Fund is an open-end fund that launched in September 2011. The domestic fund will invest across the four main property types and will invest in core, value-added and opportunistic real estate. The fund targets assets in 15 U.S. markets that Stockbridge believes are poised to capture a large share of long-term U.S. employment growth and are home to major universities and highly educated workforces. INPRS previously committed $75 million ton the fund