APFC approves $150m in commitments

The Alaska sovereign wealth fund has backed two North America-focused debt 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 LBC Credit Partners V and $75 million to Crestline Opportunity Fund IV. Both funds will be used to invest in North America private debt, with LBC’s vehicle focusing on corporate senior debt and Crestline’s vehicle focusing on distressed real estate debt.

The $65.63 billion sovereign wealth fund has a 2.80 percent target allocation to private debt that currently stands at 2.14 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 North America corporate debt funds.

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