Alaska Permanent Fund Corp., Juneau, hired Pathway Capital to manage the system's $840 million private equity portfolio with full discretion. The allocation is the first for the $28 billion system in private equity.
Separately, the system approved giving managers of its $2.7 billion real estate portfolio the discretion to purchase a total of $500 million in new investment property without prior approval from the system, said Laura Achee, communications and research liaison. The new policy will not include REITs, she said. The system's real estate managers are AEW, CB Richard Ellis, Henderson Investors, Kennedy Real Estate Counsel, L&B Real Estate, LaSalle Advisors, Sentinel Real Estate and Wellington.