INDIANAPOLIS (March 21, 2018) – The Next Level Indiana Trust Fund Investment Board has finalized an agreement with 50 South Capital Advisors, LLC to administer the state’s $250 million fund. The board also has approved its investment policy statement.
The board voted March 15 to authorize the state treasurer to sign the agreement on its behalf.
The board’s investment policy emphasizes good investment performance, growing Indiana’s investment community, and developing technology businesses in Indiana. Investments may be made in venture capital, private credit, private equity and growth. A fund-of-funds approach will be used, and the program administrator will seek to create a diversified portfolio of 20 to 30 funds.
The board’s investment policy statement specifically addresses the investment objectives and strategy; general investment parameters; roles and responsibilities of the program administrator and investment board, and the process for performance evaluation and reporting.
50 South Capital Advisors, LLC will host a Next Level Fund Town Hall meeting on Monday, April 9 at 10 a.m. at The Gem @ Union 525, 525 South Meridian Street, to introduce firm staff to the business, technology and investment community and further discuss Next Level Fund investments.
The Next Level Indiana Trust Fund was established by the Indiana Finance Authority as a charitable trust that operates separately from the state of Indiana. The board acts as the trustee for the fund. It was a key component of Gov. Holcomb’s 2017 Next Level legislative agenda and aims to build and support increased entrepreneurship and innovation in the state.
50 South Capital Advisors, LLC is a global private equity firm with a large Midwestern presence. The firm specializes in small and middle market companies, which makes it well aligned to the mission of the Next Level Indiana Trust Fund.