Indiana pension fund commits $50m to Stockbridge
The $31.3 billion Indiana Public Retirement System has committed $50 million to Stockbridge Value Fund III, a diversified U.S. real estate fund managed by Stockbridge Capital Group. Stockbridge Value Fund III has raised $250 million in a first close this year in April. The value-added fund has a $500 million fundraising target. It will invest in the U.S. apartment, retail, office and industrial sectors, specifically in East Coast and West Coast markets. The fund follows its predecessor, Stockbridge Value Fund II, which closed in 2015 with $320 million in capital commitments.