# Indiana Finance Authority

Indiana Finance Authority is a Government / Public Body based in Indianapolis, United States.

## Overview

- **Organization type:** Government / Public Body
- **Headquarters:** Indianapolis, United States
- **Region:** North America
- **Address:** Room 240 State House 200 West Washington Street, Indianapolis, IN, United States
- **Founded:** 1937
- **Assets under management:** 546 (Altss estimate)
- **Website:** www.in.gov
- **LinkedIn:** https://www.linkedin.com/company/indiana-finance-authority

## Regulatory record

- **Reports private funds:** No

## About

The Indiana Finance Authority was established in 1937. It operates as the financing arm for Indiana state infrastructure under statutory board oversight from the Governor and State Treasurer. The authority deploys capital into transportation and water assets. Confirmed holdings include the Indiana Toll Road valued at $5.725 billion, the Lewis & Clark Bridge at $1.27 billion and the I-69 Section 5 project at $560 million. It also manages a $4 billion State Revolving Fund loan portfolio for wastewater and drinking water systems. Geographic focus remains inside Indiana with joint ventures involving the Northern Indiana Commuter Transportation District and Indiana Department of Transportation. The authority lists no additional offices outside Indianapolis. It maintains industry memberships in the Council of Infrastructure Financing Authorities. Recent activity includes sponsorship of the Indiana Utility Regional Meetings in February 2026 on wastewater financing. Statutory board appointments by the Governor create direct political linkage to state capital allocation decisions.

## Sectors

- Infrastructure

## People

- Lisa W. Hershman — Chair
- Daniel Elliott — Indiana State Treasurer

## Questions

### Who runs investment decisions at Indiana Finance Authority?

Lisa W. Hershman serves as Chair of the board. Daniel Elliott, Indiana State Treasurer, holds a statutory seat on the board.

### Does Indiana Finance Authority participate in fund commitments or only direct deals?

The authority executes direct ownership and joint ventures in infrastructure assets such as toll roads and rail projects.

### What asset classes does Indiana Finance Authority hold?

Holdings center on transportation infrastructure, water infrastructure loans and state facilities.

### Where does the underlying capital originate?

Capital originates from the Indiana State Police Pension Trust established in 1937.

### How is Indiana Finance Authority governed?

The Governor appoints three of five statutory board members. The State Treasurer and State Budget Director also serve on the board.

## Related profiles

- [Booker Pension Scheme](https://altss.com/profile/booker-pension-scheme)
- [Philadelphia Museum of Art](https://altss.com/profile/philadelphia-museum-of-art)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/indiana-finance-authority

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology