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.