The Carlyle Group and AlpInvest Receive $150 Million Investment Mandate from Indiana Public Retirement System
March 04 2013 - 7:00AM
Business Wire
Global alternative asset manager The Carlyle Group today
announced that the Indiana Public Retirement System (INPRS) has
selected Carlyle and AlpInvest Partners to manage a new $150
million fund, Indiana Investment Fund II. IIF-II will invest in a
diversified, high-quality portfolio of Indiana-based direct
investments, co-investments and fund commitments. Carlyle and
AlpInvest have opened an office in Indianapolis to serve as base of
operations for the new partnership with INPRS.
David M. Rubenstein, Co-CEO of The Carlyle Group, said, “We are
grateful to receive this important investment mandate and excited
to expand the relationships that we’ve fostered for the past ten
years with Indiana’s pension system. We believe that Carlyle and
AlpInvest form a powerful investment platform that will work well
for Indiana’s public pensioners.”
Steve Russo, Executive Director, Indiana Public Retirement
System, 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 are pleased to have the opportunity to partner with
Indiana’s pension system. 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.”
Specific approach:
- Identify and invest in both fund
managers and companies for direct and/or co-investments.
- Focus on investment opportunities
either located in Indiana or with a meaningful connection to the
State. On an opportunistic basis, regional funds and companies will
be considered provided that they have a willingness to move a
significant part or all of their operations to Indiana.
- Invest in Private Equity Funds, Real
Assets and Credit Investments.
- Directly invest or co-invest in
companies across varied sectors through equity, debt or mezzanine
participation.
- Make investments that help strengthen
the Indiana economy.
- Conduct rigorous review to ensure every
investment meets INPRS' return expectations.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with $170 billion of assets under management across 113
funds and 67 fund of fund vehicles as of December 31, 2012.
Carlyle’s purpose is to invest wisely and create value. Carlyle
invests across four segments – Corporate Private Equity, Real
Assets, Global Market Strategies and Solutions – in Africa, Asia,
Australia, Europe, the Middle East, North America and South
America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer &
retail, energy, financial services, healthcare, industrial,
technology & business services, telecommunications & media
and transportation. The Carlyle Group employs 1,400 people in 33
offices across six continents.
Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts:
www.carlyle.com/about-carlyle/market-commentary/481
About AlpInvest Partners
AlpInvest Partners is one of the largest private equity
investors in the world, with over US$44 billion of assets under
management as of December 31, 2012. AlpInvest’s activities cover a
broad range of private equity investing, including Primary Fund
commitments, Secondary purchases and Co-Investments. The firm’s
investments span the full spectrum of private equity: buyouts,
venture capital, growth capital, mezzanine, and distressed.
AlpInvest independently manages the private equity investments for
several large Dutch and U.S. pension funds and other institutional
investors.
www.alpinvest.com
About Indiana Public Retirement System
With approximately $27.2 billion in assets under management as
of December 31, 2012, the Indiana Public Retirement System (INPRS)
is among the largest 100 pension funds in the United States. The
fund serves the needs of approximately 447,000 members and retirees
representing more than 1,400 employers including public
universities, school corporations, municipalities and state
agencies.
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