Alaska Sovereign Fund Allocates Big to Dyal Capital and American Homes 4 Rent
The Alaska Permanent Fund Corporation (APFC) announced some new commitments after a December board meeting. The APFC committed US$ 200 million to American Homes 4 Rent II, LLC, a real estate vehicle that acquires pools of vacant single-family residences and manages them as rental properties. The maximum term of American Homes 4 Rent II, LLC is six years at which time any unsold properties will be sold. Since 2012, US$ 760 million has been committed to American Homes 4 Rent by the APFC. According to a June 2014 SEC filing, APFC owns 24.4% of American Homes 4 Rent through Class A common shares.
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