PERF Launches $50 Million ‘Sidecar’ Private Equity Fund

Mar 21 2007 | 5:51pm ET

The $16.3 billion Indiana Public Employees’ Retirement Fund has launched a new $50 million fund, dubbed the Indiana Investment Fund A. The new “sidecar” fund, which was committed by the Indiana Teachers’ Retirement Fund, boosts the overall Indiana Investment Fund to $155 million.

PERF launched the Indiana Fund last year with a $100 million commitment combined with a $5 million investment from fund manager Credit Suisse. The fund includes two components: The first focuses approximately $60 million on direct investments in Indiana-based businesses and the second component of approximately $40 million invests in Indiana-based private equity groups. The new Fund A will give the pension more dry powder to invest in Indiana-based private equity shops.

“Based on the work of our fund manager Credit Suisse, it became clear that there were additional opportunities within Indiana-based private equity funds,” said PERF executive director David Adams. “It seemed logical that TRF would be a natural choice for the additional investment, so we authorized Credit Suisse to approach TRF with the opportunity.”

PERF’s board of trustees voted in October 2006 to permit the investment, and one month later TRF’s board of trustees authorized the $50 million investment. The deal was finalized today.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.