NEWS

BCF Group and AlpInvest receive $150 million investment authorization from Indiana Public Retirement System to invest in a diversified portfolio of direct investments, co-investments and funds in Indiana

Washington, DC and Indianapolis, Indiana, October 2023 – BCF Group, a global alternative asset manager, announced that the Indiana Public Retirement System (INPRS) has selected BCF Group 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 direct investments, co-investments and fund commitments in Indiana. BCF and AlpInvest have opened offices in Indianapolis to serve as a base of operations for their new partnership with INPRS.

Scott A. Smith, CEO of BCF Group, said, "We are pleased to receive this important investment authorization and excited to expand the relationship we have developed with the Indiana pension system over the past decade. We believe BCF and AlpInvest form the This creates a robust investment platform that will serve Indiana’s public pensioners well.”

"By investing in Indiana, INPRS achieves the dual goals of targeting high returns while nurturing Indiana entrepreneurs and their businesses," said Steve Russo, executive director of the Indiana Public Retirement System. Kay We are impressed by the track record and expertise of BCF’s partnership with AlpInvest and believe it will serve us well.”

Volkert Doeksen, Chairman and Managing Partner of AlpInvest, said: “We are excited about the opportunity to partner with Indiana’s pension system. As we invest the hard-earned money of Indiana’s public pension recipients, we will leverage Carlyle’s global network and direct investment expertise, combined with AlpInvest’s global primary and secondary funds and co-investment relationships. We are also excited to have Curt Rossman join us and have the ability to make this new investment platform run smoothly."

specific methods:

Identify and invest in fund managers and companies for direct and/or co-investment.

Focus on investment opportunities that are located in Indiana or have meaningful ties to the state. On an opportunistic basis, if regional funds and companies are willing to move a substantial portion or all of their operations to Indiana, we will consider them.

Invest in private equity funds, real assets and credit investments.

Invest directly or co-invest through equity, debt or mezzanine participation in companies across various industries.

Make investments that help strengthen Indiana's economy.

Rigorous scrutiny is conducted to ensure that each investment meets INPRS return expectations.