Alaska Retirement increases PE allocation

In order to reach this allocation, the pension fund will be upping its commitment pacing, targeting pledges of $560m for 2017 and increasing the total committed annually over the next 10 years. In 2016, the institution committed $577.7m, including $20m across six co-investments, against a target of $530m.

The LP has backed numerous funds including Advent International GPE VIII, Livingbridge 6 and Permira VI through its two gatekeepers, Abbott Capital Management and Pathway Capital Management. To date in 2017, the pension fund has committed $30.4m to three funds through Abbott: Abry Senior Equity V, Clayton Dubilier & Rice X and Oak HC/FT Partners II. It has also committed $47.6m to three funds through Pathway: Trident VII, EnCap XI and Quad-C IX.

Alaska Retirement Management Board has been investing in private equity funds since 1998, committing $5.4bn to the asset class. Since inception, the pension fund's private equity portfolio has generated an internal rate of return of 10.9% to December 2016.

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