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Indiana pension fund hires Carlyle, AlpInvest to manage $150m fund

4 Mar 2013

IndianaThe $27bn Indiana Public Retirement System has hired The Carlyle Group and AlpInvest Partners to manage a new $150m fund targeting investments in the state.

Indiana Investment Fund II will aim to make direct, fund and co-investments to help strengthen the Indiana economy across the private equity, real assets and credit sectors.

Curt Rossman, who managed the LP’s first investment fund for Credit Suisse, has been hired to run the second fund’s office in Indiana.

IPRS executive director Steve Russo said, “By investing capital here in Indiana, INPRS achieves the dual goal of targeting premium rates of returns while nurturing Hoosier entrepreneurs and their businesses.

“We are impressed with the track record and expertise of the Carlyle-AlpInvest partnership and are confident it will serve us well.”

Volkert Doeksen, chairman and managing partner of AlpInvest, said, “We will harness Carlyle’s global network and direct investment expertise in conjunction with AlpInvest’s worldwide primary and secondary funds and co-investment relationships as we invest the hard-earned dollars of Indiana’s public pensioners.

“We are also pleased that Curt Rossman has joined us and is well positioned to get this new investment platform running smoothly.”

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