Sen Garten Talks Hong Kong Divestments
INDIANAPOLIS — Indiana State Sen. Chris Garten says he was surprised to find the state’s public retirement system had invested more than $150 million in entities linked to Hong Kong and interests associated with the Chinese Communist Party.
Garten told WIBC’s Tony Katz Today that the issue first came up in a 2022 conversation with a constituent, a public school teacher, who asked about teacher pension fund investments.
Jacob Stewart of the Indy Star reported the story.
“We had no idea what we’d find, but once we looked into it, it shocked me, shocked him, and honestly, shocked everyone I talked to — both Republicans and Democrats,” Garten said.
Initial estimates put the exposure at $30 million, but further review showed more than $150 million in investments tied to Hong Kong and Chinese Communist Party-linked entities.
“I’m not someone who walks away from a problem,” Garten said. “When we saw that kind of exposure, especially connected to an adversarial regime, we knew we had to act.”
Garten said he contacted leadership at the Indiana Public Retirement System (INPRS) and the Governor’s Office. INPRS “responded swiftly and responsibly” and completed divestment ahead of schedule.
“They claimed 100% divestment within the first year,” Garten said. “That’s good government, and they deserve credit for taking it seriously.”
He later worked on legislation to protect Indiana’s infrastructure from foreign influence, including restrictions on land near military installations, foreign investment in utilities, and measures to strengthen the state’s energy grid.
“We’ve passed some of the strongest protections in the country,” Garten said. “We’re proud to lead on this.”
Garten added that Indiana’s actions have influenced similar legislation in Florida, Oklahoma, Kansas, and Missouri.
