Indiana Code 5-10.2-11-20. Investment in private equity partnership
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Terms Used In Indiana Code 5-10.2-11-20
- board: refers to the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.2-11-2
- business: means any of the following that exist for profit making purposes:
Indiana Code 5-10.2-11-4
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Sec. 20. This chapter does not apply directly to private equity funds. However, the board shall ensure that reasonable efforts are made during the due diligence process before an investment is made in a private equity partnership to determine whether any investments by the private equity general partner on behalf of the private equity partnership include a restricted business.
As added by P.L.177-2016, SEC.1.