Alaska Retirement Management Board, Juneau, hired Zebra Capital Management to run $75 million in U.S. microcap equities, pending successful contract and fee negotiations, said Judith Hall, liaison officer, in an e-mail.
The funding source or sources will be determined once the contract is complete, Ms. Hall wrote.
Separately, the board is expanding its contract with KKR Prisma to allow for an up to $100 million investment in its Apex equities strategy, which “aims to generate attractive, risk-adjusted returns across market environments by investing in the highest conviction ideas of 'best-in-breed' equity-oriented hedge fund managers on KKR Prisma's platform,” said documents prepared for last week's board meeting. The board already has $420 million invested with KKR Prisma.
Funding will come from domestic public equity, Ms. Hall wrote. Additional details on funding could not be learned by press time.
The board also is targeting $499 million total in private equity commitments in 2015. Pathway Capital Management Partners and Abbott Capital Management, which have discretion to make investments in private equity funds on the board's behalf will commit $187 million each. Investment staff will commit the remaining $125 million.
The board is targeting a 10% allocation to private equity over the next 10 years.
The board oversees more than $28 billion in retirement assets.
