Alaska Permanent Fund Amends Investment Guidelines in Infrastructure
The board of trustees at the Alaska Permanent Fund Corporation (APFC) amended guidelines for investing in infrastructure. Listed infrastructure is now an allowable infrastructure investment which will increase liquidity in the infrastructure portfolio. The board also approved the co-investment process for infrastructure investments.
According to APFC’s press release, “Our internal staff has put together a detailed review process for analyzing infrastructure co-investment opportunities that ensures each investment will see a thorough review,” said Board Chair Bill Moran. “In fact, they already applied this process to a recent investment and declined it. It gives the Board confidence in our investments when the staff is willing to say no to one that is not quite right for the Fund.”
Currently all infrastructure investments are made through pooled funds. To date, the APFC board has made US$ 1.7 billion in commitments to infrastructure. As of December 31, 2012, APFC’s infrastructure holdings were valued at US$ 792 million.