APFC commits $300m to affordable housing fund

The US sovereign wealth fund has backed a multifamily vehicle managed by Fairfield Residential.

Institution: Alaska Permanent Fund
Headquarters: Juneau, US
AUM: $76 billion
Allocation to alternatives: 28.9%

Alaska Permanent Fund has committed $300 million to Fairfield Affordable Housing Preservation Fund according to its December meeting materials.

The open-ended fund held a first close in October with nearly $600 million commitments from a mix of US and global pension funds and foundations.

Established in 1985, Fairfield Residential is a San Diego-headquartered real estate firm that focuses on multifamily properties across the US.

As illustrated below, APFC’s real estate fund commitments tend to target North American vehicles across a variety of sectors.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.