Private equity shines for Alaska Permanent Fund

Private equity outperformed the $51.2 billion permanent fund’s overall portfolio, which returned 15.5 percent during the fiscal year. Final audited returns will be released at a September 25-26 board of trustees meeting.

“In the five years since the recession, the Permanent Fund has almost doubled in value while paying out $4 billion in dividends,” Chief Executive Officer Michael Burns said in a statement. “Reaching this new high water mark illustrates the value of the Board’s commitment to building an all weather portfolio, one that may experience downturns in the short term, but over time will provide a stable, prudent level of growth for current and future generations of Alaskans.”

Burns did not respond to a request for further comment.

Alaska Permanent Fund has committed more than $4.8 billion across 212 private equity partnerships since inception, according to a March 31 investment report. Recent commitments include allocations to 2014 vintage funds managed by GTCR, H.I.G. Capital, Marlin Equity Partners, Onex Corp and Sentinel Capital Partners, among others.

The private equity portfolio had a fair market value of approximately $2.4 billion as of June 30, according to a monthly performance report.

In May, the permanent fund established a $750 million separate account with Apollo Global Management for investments in private credit.

Alaska Permanent Fund also has a $1 billion multi-strategy account with The Blackstone Group and a $750 million account with The Carlyle Group for natural resources and energy investments.