Indiana Public Retirement System (PRS) has invested $140m (€128.8m) in Ardian and KKR strategies through its real assets portfolio.

The $45.2bn pension fund disclosed in a board meeting document that it committed $125m to Ardian Infrastructure Fund VI.

IPE Real Assets previously reported that Ardian is seeking to raise €10bn for the fund, which will invest primarily in core-plus and value-add energy, transport and telecoms assets in Western Europe.

The fund which has a €12bn hard cap, targets mid-teen gross internal rate of returns by investing in energy, transportation and digital infrastructure.

Indiana PRS disclosed that the commitment to KKR was a $15m investment placed into the manager’s Project Campus real estate co-investment strategy.

The pension fund’s $4.2bn real assets portfolio includes 6.4% in real estate and 2.8% in infrastructure.

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