Alaska Permanent Fund Corporation has approved two real estate commitments worth $265m (€248.4m) in total.
The sovereign wealth fund disclosed in a meeting documents that it placed $165m in a separate account transaction to buy the Baylor Sports Medicine Complex, a 300,000sqft medical office building in Frisco, Texas.
Alaska Permanent Fund said it also added $100m to the $916m real estate investment trust (REIT) relationship with Mellon known as the Mellon MSCI US REIT account. The REIT portfolio is currently 60% invested in industrial and 40% in multifamily.
Real estate accounts for $7bn of Alaska Permanent Fund’s $74.4bn total assets.
Alaska Permanent Fund also disclosed in the meeting document that it made a trio of infrastructure commitments including a $107m commitment to the Antin Infrastructure Partners managed Antin Infrastructure V fund which targets at €12bn hard cap.
The sovereign wealth fund issued a $50m commitment to North Haven Infrastructure Partners IV, Morgan Stanley’s global infrastructure fund.
Alaska Permanent Fund said it also placed $50m into Berkshire Digital Infrastructure I, a fund that mainly invests in digital infrastructure assets located in the US.
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