APFC approves $406m in commitments

The Alaska sovereign wealth fund has backed eight diversified private equity funds.

Institution: Alaska Permanent Fund
Headquarters: Juneau, United States
AUM: $65.63bn
Allocation to alternatives: 27.97%
Bitesize: $50-100m

Alaska Permanent Fund committed $75 million to Trident VIII, $60 million to Advent International Global Private Equity IX, $81 million to Permira VII, $15 million to Incline Elevate Fund, $30 million to New Enterprise Associates 17, $70 million to H.I.G. Middle-Market LBO III, $25 million to Carlyle International Energy Partners II and $50 million to L Catterton IX. With the exception of New Enterprise Associates 17, which is a venture capital fund, all vehicles will be used to make buyout investments across diversified sectors and regions.

The $65.63 billion US sovereign wealth fund has a 12 percent target allocation to private equity that currently stands at 13.46 percent.

As illustrated in the charts below, APFC devotes 27.97 percent of its full investment portfolio to alternative assets. The institution has a strong appetite for funds managed by North America-based fund managers.

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