Alaska Permanent Fund Corp., Juneau, made $656 million in new commitments and direct investments, a report for the $65.8 billion sovereign wealth fund's upcoming board meeting this week shows.
Within its private equity and special opportunities asset class, APFC committed $50 million to growth equity fund, L Catterton Growth Partners IV, $40 million to Summit Partners Growth Equity Fund X, and $15 million each to buyout fund Genstar Capital Partners IX and middle-market buyout fund Nautic Partners IX.
The sovereign wealth fund also made a direct investment of $25 million in Sana Biotechnology Inc.
As of March 31, the actual allocation to private equity and special opportunities was 12.9%.
Within its infrastructure and private income asset class, APFC committed $75 million to Clearlake Opportunities Partners II, a special situations fund managed by Clearlake Capital Group.
The fund also made a $36 million co-investment with LS Power Equity Advisors.
As of March 31, the actual allocation to infrastructure and private income was 8.1%.
APFC also invested $200 million each in risk-parity strategies managed by Bridgewater Associates and PanAgora Asset Management. They are the sovereign wealth fund's first risk-parity managers. APFC approved its risk-parity program in 2018. The portfolios fall within APFC's asset allocation asset class.
As of March 31, the actual allocation to asset allocation strategies was 5.7%.