Indiana Retirement commits $100m to Ambrose Co-Investment Fund
Investors - DECEMBER 14, 2023

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Indiana Retirement commits $100m to Ambrose Co-Investment Fund

by Lewis Dayton

The Indiana Public Retirement System (INPRS) has committed $100 million to Ambrose Co-Investment Fund, a co-investment opportunity made alongside Ambrose Fund IV.

Ambrose Fund IV is managed by Ambrose Property Group and is seeking to raise $500 million of capital to invest opportunistically in speculative and build-to-suit projects in industrial, logistics and ecommerce real estate assets throughout the United States.

INPRS had committed $100 million to Ambrose Fund IV in June 2023.

As of June 30, INPRS had 8.1 percent ($3.24 billion) of its $39.76 billion portfolio allocated toward real assets, slightly lower than its 10 percent target allocation for the asset class.

As of June 30, 73.9 percent of INPRS’s real assets investments were real estate investments, 14.5 percent were energy investments and 11.6 percent were infrastructure investments.

Of the real estate investments, 32.9 percent were in industrial, 22.3 percent were in apartment, 8.1 pe

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