Alaska Retirement Management Board has committed $50 million to Almanac IX, according to recent board meeting materials.
Almanac Realty Securities IX is focused on making private placements of debt, preferred equity and equity capital, to companies that are active in the ownership, management and enhancement of real estate and real estate–related assets in North America.
Almanac intends to primarily target growth capital investments in experienced, mid-sized owners and operators of real estate in companies located in the United States, with up to 15 percent invested in non-U.S. portfolio companies, according to a meeting document from another pension fund investor.
The closed-end, value-add real estate fund opened to investors in April, indicates a document filed with the SEC. An equity fundraising target was not disclosed.
