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APFC approves $300m commitment

The US sovereign wealth fund has backed a multifamily vehicle managed by Clarion Partners.

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

Alaska Permanent Fund has confirmed a commitment of $300 million to Clarion Gables Multifamily Trust Fund, according to a document from a February board meeting.

The $74.89 billion sovereign wealth fund has a 7 percent target allocation to private real estate that currently stands at 6.7 percent. APFC is underweight in private real estate, infrastructure and private debt, 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 funds that are used to invest in properties throughout North America across diversified sectors including industrial and multifamily.

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