Alaska Retirement Management Board has expanded its infrastructure portfolio with a $75m (€65.4m) commitment to KKR’s latest global infrastructure fund, according to the pension fund’s meeting document.
KKR has raised $17.3bn in total commitments for KKR Global Infrastructure V, as disclosed in its first-quarter earnings report, and is targeting a final close of $20bn.
The KKR fund has $13.6bn in uncalled commitments, with $3.8bn already invested by KKR.
The fund’s investment period began in July 2024 and will run until July 2030. The fund targets net internal rates of return in the low teens and mid-teens for gross yields.
The new commitment brings Alaska Retirement Management Board’s infrastructure portfolio to four managers. The portfolio’s invested assets were valued at $1bn at the end of March.
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