IC 21-29-2
    Chapter 2. General Powers; Board of Trustees

IC 21-29-2-1
Applicability of section; investment of funds
    Sec. 1. (a) This section applies to the board of trustees of thefollowing state educational institutions:
        (1) Ball State University.
        (2) Indiana University.
        (3) Indiana State University.
        (4) Purdue University.
        (5) University of Southern Indiana.
    (b) The board of trustees of a state educational institution mayestablish and carry out written policies for the investment of thefunds of the state educational institution in the manner provided byIC 30-4-3-3.
As added by P.L.2-2007, SEC.270.

IC 21-29-2-2
Board; investment of funds
    Sec. 2. The board of trustees of Ivy Tech Community College mayestablish written policies for the investment of the funds of Ivy TechCommunity College in the manner provided by IC 30-4-3-3.
As added by P.L.2-2007, SEC.270.

IC 21-29-2-3
Alternative investment of institutional funds; records; disclosure
    Sec. 3. (a) Notwithstanding any other law, the following recordsregarding alternative investments in which institutional investmentfunds invest are not subject to disclosure under IC 5-14-3, unless theinformation has already been publicly released by the keeper of theinformation:
        (1) Due diligence materials that are proprietary to theinstitutional investment fund or the alternative vehicle.
        (2) Quarterly and annual financial statements of alternativeinvestment vehicles.
        (3) Meeting materials of alternative investment vehicles thatcontain individual portfolio holdings.
        (4) Records containing information regarding the underlyingportfolio positions in which alternative investment vehiclesinvest.
        (5) Capital call and distribution notices.
        (6) Alternative investment agreements and all relateddocuments.
    (b) Notwithstanding subsection (a), the following informationcontained in records described in subsection (a) regarding alternativeinvestments in which institutional investment funds invest is subjectto disclosure under this chapter and is not considered a trade secretor confidential financial information exempt from disclosure:
        (1) The name, address, and vintage year of each alternative

investment vehicle.
        (2) The dollar amount of the commitment made to eachalternative investment vehicle by the institutional investmentfund since inception.
        (3) The dollar amount of cash contributions by the institutionalinvestment fund to each alternative investment vehicle sinceinception.
        (4) The dollar amount, on a fiscal year-end basis, of cashdistributions received by the institutional investment fund fromeach alternative investment vehicle.
        (5) The dollar amount, on a fiscal year-end basis, of cashdistributions received by the institutional investment fund plusthe remaining value of partnership assets attributable to theinstitutional investment fund's investment in each alternativeinvestment vehicle.
        (6) The net internal rate of return of each alternative investmentvehicle since inception.
        (7) The investment multiple of each alternative investmentvehicle since inception.
        (8) The schedule of management fees and costs assessed byeach alternative vehicle to the institutional investment fund.
        (9) The dollar amount of cash profit received by institutionalinvestment funds from each alternative vehicle on a fiscalyear-end basis.
    (c) The following definitions apply throughout this section:
        (1) "Alternative investment" means an investment in a privateequity fund, real estate fund, venture fund, hedge fund, naturalresource, or absolute return fund.
        (2) "Alternative investment vehicle" means a limitedpartnership, limited liability company, or similar legal structurethat is not publicly traded through which an institutionalinvestment fund invests in portfolio companies.
        (3) "Institutional investment fund" means a fund that consists ofmoney managed in an endowment fund, including aquasi-endowment, and the returns on the endowment fund, thatis held and invested by a state educational institution.
        (4) "Portfolio positions" means individual portfolio investmentsmade by alternative investment vehicles.
As added by P.L.226-2007, SEC.4. Amended by P.L.1-2010, SEC.84.