Alaska Permanent Fund Corp., Juneau, made $683 million in commitments and investments in the quarter ended March 31, a report for the $77 billion sovereign wealth fund's board meeting this week shows.
Within its private income and infrastructure asset class, APFC committed $75 million to Digital Colony Partners II, an infrastructure fund that concentrates on data centers, cell towers and digital billboards among other investments, and $50 million to EnCap Energy Transition Fund I, a clean-energy fund managed by EnCap Investments.
The sovereign wealth fund also made a direct investment of $68 million in Viva 3, purchasing the life settlement portfolio from Blackstone Group; made a $16 million follow-on investment in Vena Energy; and a $15 million co-investment in Bluestem Energy Solutions.
As of March 31, the actual allocation to private income and infrastructure was 6.9%; the target is 9%.
Within its private equity and special opportunities asset class, the sovereign wealth fund committed $60 million to growth equity fund JMI Equity Fund X; $50 million combined to buyout fund Boyu Capital Fund V and growth equity fund Boyu Capital Growth Fund I; $50 million to middle-market buyout fund Charlesbank Equity Fund X and $25 million to private credit fund Charlesbank Opportunistic Credit Overage, both managed by Charlesbank Capital Partners; $40 million to Goodwater Infinity II, a venture capital fund managed by Goodwater Capital; $25 million each to ARCH Venture Fund XI, a venture capital fund managed by ARCH Venture Partners, and IVP XVII, a venture capital fund managed by Institutional Venture Partners; $20 million to Battery Ventures Select Fund I, a venture capital fund; and $14 million to buyout fund Bain Capital Japan Middle Market Fund.
APFC also made a direct investment of $50 million in Foundation Consumer Brands.
As of March 31, the actual allocation to private equity and special opportunities was 16.9%; the target is 15%.
Within absolute return, the sovereign wealth fund made additional investments of $50 million each in hedge funds Alphadyne Asset Management and Bridgewater Pure Alpha II. The report did not disclose how much was currently invested.
As of March 31, the actual allocation to absolute return was 5.8%; the target is 6%.