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December 14, 2017 12:00 AM

Alaska Permanent Fund allocates $1 billion

Meaghan Offerman
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    Alaska Permanent Fund Corp., Juneau, committed or invested $876 million total with 13 managers and approved $135 million total in direct investments with companies, show materials prepared for the Tuesday-Wednesday board meeting.

    For its private equity and growth opportunities portfolios, the $62.8 billion sovereign wealth fund committed $466 million total to 10 managers:



    • $100 million to Onex Partners V, a North American buyout fund managed by Onex Corp.;

    • $65 million to buyout fund GTCR Fund XII;

    • $55 million to Glendon Opportunities Fund II, a credit and special situations fund managed by Glendon Capital Management;

    • $50 million to an Institutional Venture Partners fund;

    • $42 million to CVC Capital Partners VII, a European buyout fund;

    • $41 million to Nordic Capital Fund IX, a European and U.S. midmarket health-care fund;

    • $38 million to Canaan XI, an early-stage venture capital fund managed by Canaan Partners;

    • $25 million total to natural resources funds Quantum Energy Partners VII and Quantum Energy Partners VII Co-Investment Fund;

    • $25 million to buyout fund Bain Capital Fund XII; and
    • $25 million to Insight Venture Partners Fund X.

    Also for its private equity and growth opportunities portfolios, the pension fund directly invested an additional $25 million in Indigo Agriculture, an agricultural technology company, and $10 million in Vir Biotechnology. The APFC initially invested $48 million with Indigo Agriculture in 2016.

    For its private income portfolio, the permanent fund committed $100 million to TPG's TSSP Adjacent Opportunities 4.0 and directly invested $100 million in Generate Capital Inc., a sustainable energy financing company.

    For its hedge fund portfolio, the permanent fund invested $160 million in a systematic macro manager and $150 million in a fixed-income relative value manager. Further details, including the managers, were not disclosed.

    As of Oct. 31, the permanent fund had a 7% allocation to private equity and 4.6% allocation to growth opportunities. As of Sept. 30, it had a 5.4% allocation to private income and 3.5% allocation to hedge funds.

    A spokeswoman could not immediately be reached for additional information.

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