Alaska Retirement Management Board, Juneau, committed $100 million to Ares Pathfinder Core Fund.
The board's investment staff completed the commitment to the evergreen private credit fund managed by Ares Management in February, according to a report from CIO Zachary A. Hanna included with board materials for its upcoming meeting Thursday and Friday.
It is the board's first commitment to an Ares fund.
The board oversees the management of a total of $39.9 billion in defined benefit and defined contribution plan assets, including the $23.1 billion Public Employees' Retirement System and $10.7 billion Teachers' Retirement System.
