INDIANA INVESTMENT FUND II

The Indiana Investment Fund II ("IIF-II") is a private equity fund that INPRS has created to target significant risk-adjusted returns to its members through investing in Indiana funds and privately-held companies. The IIF-II is managed by the Carlyle Solutions Group ("CSG"), a joint effort of The Carlyle Group and AlpInvest Partners. The IIF-II is the second generation of the Indiana Investment Fund (“IIF-I”) which was launched by INPRS in 2006. The IIF-I is also managed by CSG.