The Indiana Public Retirement System chose The Carlyle Group and AlpInvest Partners as managers of an existing Indiana Investment Fund I worth $155 million.
The Indiana Public Retirement System previously tapped both Carlyle and AlpInvest to manage and deploy the Indiana Investment Fund II (IIF-II) last December. The Indiana Investment Fund II is worth $150 million.
The two firms now manage a combined total of $305 million from the Indiana Programs of the INPRS.
"We are pleased to deepen our relationship with INPRS by managing this legacy portfolio," Carlyle's Co-CEO David M. Rubenstein said. "Our mandate is to invest wisely and create value for Indiana's public pensioners and we are grateful for this opportunity," he added.
Managing Partner and Chairman of AlpInvest Volkert Doeksen said that "this mandate is important to us and we will work to maximize the fund's value." "It has only been a few months but we are already pleased with the opportunities we are seeing for investing the fresh capital in the IIF-II fund that was awarded to Carlyle and AlpInvest in December," added Doeksen.
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