Alaska Permanent Fund Corp., Juneau, disclosed $1.1 billion in commitments and investments for the quarter ended Sept. 30 in a report from CIO Marcus Frampton included with materials for the $82.7 billion sovereign wealth fund's board meeting scheduled for Wednesday and Thursday.
Within its private income and infrastructure asset class, APFC committed $100 million to Stonepeak Infrastructure Fund IV, managed by Stonepeak Infrastructure Partners; and $75 million each to Audax Direct Lending Solutions Fund II, a middle-market and lower middle-market senior direct lending fund managed by Audax Group; Crestline Specialty Lending Fund, a direct lending fund managed by Crestline Investors; H.I.G. Infrastructure Partners, an infrastructure fund managed by H.I.G. Capital; ICG Europe Fund VIII, a middle-market private debt fund managed by Intermediate Capital Group; and Sixth Street Growth II, a special situations fund managed by Sixth Street Partners.
The sovereign wealth fund also made co-investments of $30 million with HPS Investment Partners, $25 million with Permira Credit and $4 million with Audax DLS, all 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 Sept. 30, the actual allocation to private income and infrastructure was 7.5%.
Within its private equity and special opportunities asset class, APFC committed $75 million to TA Select Opportunities II, a growth equity fund managed by TA Associates; $60 million to buyout fund Hellman & Friedman Capital Partners X; $57 million to Sentinel Continuation Fund I, a middle-market private equity fund managed by Sentinel Capital Partners; $50 million each to Arctos Sports Partners Fund I, a private equity fund that invests in minority ownerships of sports franchises, and special situations fund TPG Growth V; $38 million to Quad-CX, a private equity fund managed by Quad-C Management; $30 million combined to venture capital funds Index Ventures XI and Index Ventures Growth VI; $30 million each to Freshstream II, a private equity fund managed by Freshstream Investment Partners, and Spectrum Select Opportunities, a growth equity fund managed by Spectrum Equity Management; $20 million to Nautic X, a middle-market buyout fund managed by Nautic Partners; and $15 million to Insight Venture Partners XII, a growth equity fund managed by Insight Partners.
Also within private equity and special opportunities, APFC disclosed a direct private equity investment of $50 million to Generate Biomedicines and a co-investment of $33 million to Freshstream Clyde Secondary, a co-investment fund managed by Freshstream Investment Partners.
As of Sept. 30, the actual allocation to private equity and special opportunities was 19.2%.
