Indiana backs Hellman & Friedman, Blackstone

  • Indiana commits $75 mln to Hellman & Friedman
  • $100 mln to Blackstone Property Partners for U.S. real estate
  • $30 bln retirement system 12.8 pct allocated to PE

On Nov. 7, the $30 billion retirement system committed $75 million to Hellman & Friedman Capital Partners VIII, which held a final close on $10.9 billion later that month. Fund VIII enjoyed strong demand from limited partners. Despite being one of the largest funds raised in 2014, many Fund VIII investors saw their commitments reduced from their preferred amount.

Indiana also committed $100 million through its real estate allocation to Blackstone Property Partners on Dec. 3, according to the update. Blackstone Property Partners will invest in stable properties in major U.S. markets, with an emphasis on multifamily, office, retail and industrial assets.

In November, Bloomberg reported that Blackstone had raised $1.5 billion for the fund. The Arizona State Retirement System committed $100 million to the fund earlier this year.

Indiana held a 12.8 percent allocation to private equity and a 5.2 percent allocation to real estate as of October 31, according to the investment update. Through June 30, the private equity portfolio generated a 12.02 percent internal rate of return.