APFC approves $50m commitment

The US sovereign wealth fund has backed Ares' fifth Europe-focused senior debt vehicle.

Institution: Alaska Permanent Fund
Headquarters: Juneau, US
AUM: $74.89 billion
Allocation to alternatives: 29.34%

Alaska Permanent Fund has confirmed a commitment of $50 million to Ares Capital Europe V, according to a document from a February board meeting.

The $74.89 billion sovereign wealth fund has a 2.8 percent target allocation to private debt that currently stands at 2.3 percent. APFC is underweight in private debt, infrastructure and private real estate, but overweight in private equity.

As illustrated in the charts below, APFC devotes 29.34 percent of its full investment portfolio to alternative assets. The institution has a strong appetite for North America-focused corporate and real estate debt funds.

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