Alaska Permanent tops up alts commitment

The Alaska Permanent Fund Corporation increased its commitment to the Capital Constellation fund by $100 million, alongside The Railways Pension Scheme in the UK. “Our increased commitment reflects Constellation’s impressive traction in the market and our belief that is a partnership that benefits all participants,” said Steve Moseley, deputy CIO and head of alternatives at the $67 billion Alaska Permanent Fund and a founding board member of Constellation. The increased commitment brings Constellation’s total assets to $1.2 billion. Since its inception Constellation has seeded four managers: Ara Partners, Astra Capital Management, Motive Partners and a real estate credit manager. Constellation, a joint venture among global institutional investors interested in investing in ‘next-generation’ alternative asset managers, is also under exclusivity with two additional managers. "We are excited to continue to build a network of aligned institutional partners and investor entrepreneurs around the world," said Russell Valdez, chief investment officer of Wafra and a founding Board member of Constellation. "Our asset owner partners are motivated by a desire for genuine engagement and stronger partnership with the investor entrepreneurs." In addition to Alaska and RPMI Railpen, other partners include the Kuwait Investment Authority and the Third Swedish National Pension Fund (AP3) and Wafra, a leading private equity and alternative investment manager on behalf of the Public Institution for Social Security of Kuwait. These founding partners of Constellation together manage more than $200 billion in assets and have made a commitment of $900 million to Constellation.

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