Alaska Retirement Management Board, Juneau, committed a total of $180 million to four managers, materials prepared for the Thursday board meeting show.
The following commitments were made by Gary Bader, chief investment officer. Mr. Bader has discretion to commit up to $100 million each to new investment funds.
- $50 million to NGP Natural Resources XI, a private equity fund managed by NGP Energy Capital Management that focuses on the development of crude oil and natural gas.
- $50 million to Clarion Development Ventures IV, a closed-end real estate fund. The commitment will fall under the board’s real assets allocation. The board previously committed $50 million to Clarion Development Ventures II in 2004 and $30 million to Clarion Development Ventures III in 2008.
- $30 million to Glendon Capital Management I, a distressed debt private equity fund.
Separately, Mr. Bader allocated an additional $50 million to real estate separate account manager LaSalle Investment Management, bringing its total allocation to about $277 million.
The board oversees more than $27 billion in retirement assets.
As of Dec. 31, the asset allocation was 28.67% broad domestic equity, 24.47% global equity ex-U.S, 16.47% real assets, 12.45% fixed income composite, 7.8% private equity, 5.21% absolute return, 3.25% alternative equity strategies, and 1.68% cash equivalents.
Judith Hall, liaison officer, could not immediately be reached for additional information.
