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Indiana Public Retirement System invests $100 million in core fund

by Andrea Waitrovich

The $27.1 billion Indiana Public Retirement System (INPRS) has committed $100 million to H/2 Core Real Estate Debt Fund, an open-end fund managed by H/2 Credit Manager. The vehicle raised $475 million in equity commitments, according to a February filing with the Securities and Exchange Commission. This is not the firm’s first investment with H/2 Credit Manager.

INPRS has a target allocation to real estate of 7.5 percent, and the retirement system had an actual allocation of 4.7 percent, or $919.5 million, as of June 2012. Real estate was one of the top-performing major asset classes in the INPRS portfolio at the start of fiscal year 2012.

INPRS’ real estate portfolio mostly comprises investments in private real estate partnerships, and the un

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