Indiana Public Retirement System (INPRS) has approved a $100m (€84.4m) commitment to a Kayne Anderson US opportunistic property debt fund and is close to achieving its $325m (€275.6m) real estate commitment target in 2020.
The pension fund said in a meeting document that it is investing in the Kayne Anderson Real Estate Opportunistic Debt Fund II fund and has another $50m in its potential investment pipeline to enable it to reach its investment target for the year.
According to the pension fund, the Kayne Anderson fund will invest primarily through the purchase of Freddie Mac structured products and the purchase of debt secured by assets predominantly in multifamily housing, student housing, medical office, senior housing and self-storage assets.
So far, INPRS has $50m commitment each into the Related Real Estate Fund III and Exeter Industrial Value Fund V funds and $75m into Abacus Multifamily Partners Fund V.
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