Indiana Public Retirement System (PRS) has approved $250m (€242m) worth of real estate commitments to ICG, Bain Capital and Blackstone funds, and issued $100m into Icon Infrastructure’s latest fund.

The pension fund said it has issued a $100m commitment to the ICG Sale Leaseback fund which targets opportunities in Europe.

Indiana PRS has placed $50m into Bain Capital Real Estate Co-Invest Fund, a co-investment vehicle which will invest in opportunistic real estate alongside Bain Capital’s real estate platform.

The pension fund has also approved $100m to Blackstone Real Estate Partners X, a fund which has so far raised over $24bn of its $30.3bn fundraising target.

Indiana PRS said it has placed $100m into the Icon Infrastructure Partners VI fund.

As previously reported, Icon Infrastructure is planning to raise $3bn for the fund which makes investments in Europe and North America.

Partners VI, targets mid-market investments in core-plus or value-add portfolio companies.

The fund will be looking for transactions that can produce a net internal rate of return of around 10% to 12%.

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