Alaska Retirement Management Board, Juneau, disclosed three alternative commitments totaling $125 million in a report from CIO Zachary A. Hanna, included with board materials for the meeting Thursday and Friday.
The board committed $50 million each to Clearlake Capital Partners VII, a private equity special situations and value fund managed by Clearlake Capital Group, and growth equity fund Summit Partners Growth Equity Fund XI; and $25 million to Riverside Micro-Cap Fund VI, a buyout fund managed by The Riverside Co., the report said.
The commitments closed between July 29 and Sept. 10, according to the report.
The board oversees the management of $41 billion in defined benefit and defined contribution plan assets, including the $23.5 billion Public Employees' Retirement System and $11 billion Teachers' Retirement System.
The defined benefit plan's target allocation to private equity is 14%.