Alaska Permanent Fund Corp., Juneau, disclosed just over $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 $72.7 billion sovereign wealth fund's upcoming Dec. 7-8 board meeting.
Within its real estate asset class, APFC committed $300 million to Fairfield Affordable Housing Preservation Fund, an open-end opportunistic real estate fund managed by Fairfield Residential, and invested $300 million in a joint venture with Apartment Investment and Management Co. to pursue multifamily real estate developments.
As of Nov. 9, the actual allocation to real estate was 9.3%; the target is 9%.
Within its absolute return asset class, APFC invested $150 million in Kirkoswald Global Macro Fund, a global macro hedge fund managed by Kirkoswald Capital Partners, and $25 million in long/short equity hedge fund Woodline Partners.
As of Nov. 9, the actual allocation to absolute return was 7.1%; the target is 6%.
Within its private income and infrastructure asset class, Alaska Permanent committed $65 million to Crestline Opportunity Fund V, a private credit fund managed by Crestline Investors, and $60 million to NGP Royalty Partners II, an oil and gas fund managed by NGP Energy Capital Management.
As of Nov. 9, the actual allocation to private income/infrastructure was 8.2%; the target is 9%.
Within private equity, APFC committed $60 million and $15 million, respectively, to middle-market buyout fund Sentinel Capital Partners VII and lower middle-market buyout fund Sentinel Junior Capital II, both managed by Sentinel Capital Partners; $40 million to buyout fund Spectrum Equity X; $25 million each to middle-market buyout fund Lee Equity Partners Fund IV, H.I.G. Middle Market LBO IV, a middle-market buyout fund managed by H.I.G. Capital, and technology-focused buyout fund Vista Equity Partners Fund VIII; and $15 million to TCV XII, a technology-focused growth equity fund managed by Technology Crossover Ventures.
As of Nov. 9, the actual allocation to private equity was 20.5%; the target is 17%.