Alaska Permanent Fund Looks at Foreclosed Homes
The Alaska Permanent Fund Corporation (APFC) is keen on allocating capital to purchase homes in distressed single-family housing markets outside of Alaska. The allocation could be up to US$ 400 million, which is around 1% of total fund assets. It would be under the special opportunities allocation rather than real estate. The basic investment premise is that there are many markets where single-family residences are priced well below what they are worth. The APFC Board of Trustees gave conceptual approval to the new strategy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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