Alaska Permanent Fund Corp., Juneau, made $1.1 billion in commitments and investments in the quarter ended Dec. 31, a report for the $73.8 billion sovereign wealth fund's board meeting this week shows.
Within real estate, APFC committed $300 million to Clarion Gables Multifamily Trust, an open-end real estate fund managed by Clarion Partners, and also committed $250 million to an associated co-investment vehicle with Clarion.
As of Dec. 31, the actual allocation to real estate was 6.6%; the target is 7%.
Within its private equity and special opportunities asset class, the sovereign wealth fund committed $75 million each to Centerbridge Capital Partners IV, a buyout fund managed by Centerbridge Partners and buyout fund GTCR XIII; $65 million to TCV XI, a private equity fund managed by Technology Crossover Ventures; $40 million to Berkshire Fund X, a buyout fund managed by Berkshire Partners; and $25 million to Bain Capital Fund XIII, a North American global buyout fund.
The sovereign wealth fund also made direct private equity investments of $50 million in Tessera Therapeutics Inc. and $5 million in Codiak Biosciences Inc. and co-investments of $37 million in Capstone Logistics LLC (alongside H.I.G. Capital) and $30 million in Klaviyo (alongside Summit Partners).
As of Dec. 31, the actual allocation to private equity and special opportunities was 15.8%; the target is 15%.
Within its private income and infrastructure asset class, APFC committed $75 million to EQT Infrastructure V, an infrastructure fund managed by EQT Partners, and $50 million to Ares Capital Europe V, a European direct lending fund managed by Ares Management.
The sovereign wealth fund also made a co-investment of $50 million in Kicking Horse (alongside Whitehorse Liquidity Partners).
As of Dec. 31, the actual allocation to infrastructure and private income was 6.9%; the target is 9%.
