Indiana Pension Fund Ups Alternatives Allocation

Nov 16 2006 | 9:54am ET

The Indiana State Teachers Retirement System is planning a major increase in its allocation to alternative investments, including private equity, absolute return funds and real estate.

The $4.8 billion pension plan plans to double its private equity allocation to 10%, chief investment officer Bob Newland said. ISTRS has retained Callan Associates as a consultant; interested parties should contact Gary Robertson at Callan’s San Francisco office for the request for proposals. Newland would not rule out simply turning the new mandate over to Darien, Conn.-based Portfolio Advisors, which runs ISTRS’ current p.e. portfolio.

The fund’s board has also approved an increase in its real estate and absolute return allocations, increasing the former by about $150 million to almost $400 million, and the latter by $120 million to about $300 million.

ISTRS is currently evaluating whether to issue RFPs for the real estate and absolute return allocations, or to simply increase the mandates of its current managers.

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