Alaska Permanent Fund Corp., Juneau, made $1.5 billion in new commitments and direct investments, a report for the $61.9 billion sovereign wealth fund's upcoming board meeting this week shows.
Within its infrastructure and private income asset class, APFC committed $500 million to Global Infrastructure Partners IV; invested $200 million in King Street Capital, a long/short credit fund managed by King Street Capital Management; committed $175 million to EQT Infrastructure IV; committed $100 million to TSSP Capital Solutions Fund, a special situations fund managed by TPG; committed $75 million each to Energy Spectrum Partners VIII, a natural resources fund managed by Energy Spectrum Capital; Oaktree Power Opportunities Fund V, an energy fund managed by Oaktree Capital Management (OAK); and private debt fund Permira Credit Solutions IV; committed $50 million to Atalaya Special Opportunities Fund VII, a distressed debt fund managed by Atalaya Capital Management; and committed $25 million to Activate Capital Partners.
APFC also made co-investments of $20 million and $10 million with Audax Group and $15 million with LBC Credit Partners in its Alaska Direct Alternative Credit portfolio. Investments in ADAC include the portfolio of co-investments alongside the sovereign wealth fund's existing private credit managers, as well as a liquid portfolio of internally managed non-investment-grade bonds and exchange-traded funds.
As of Dec. 31, the actual allocation to infrastructure and private income was 8.4%.
Within its private equity and special opportunities asset class, APFC committed $65 million to Boyu Capital Fund IV, a private equity fund that focuses on investments in China; $50 million to venture capital fund Altitude Life Science Ventures Side Fund III; a combined $25 million to Lightspeed China Partners IV and Lightspeed China Partners Select I, both China-focused venture capital funds managed by Lightspeed Venture Partners; and $20 million to Harvest Partners VIII, a buyout fund that will invest in North American middle-market management buyouts and recapitalizations.
As of Dec. 31, the actual allocation to private equity and special opportunities was 13.2%.