Alaska Permanent Fund, the permanent fund managed by the Alaska Permanent Fund Corporation, has invested $112.5 million toward a new joint venture that is focused on opportunistic lending, according to recent meeting documents.
According to the documents, CIO Frampton discussed the intriguing investment landscape that now exists in the real estate opportunistic lending sphere due to a reduction of involvement in the sector from the traditional heavyweight, banks.
The joint venture is focused on making loans in the 50 percent to 65 percent loan-to-value range.
As of Sept. 29, 2023, 10.8 percent ($8.31 billion) of APFC’s $77.21 billion of NAV was invested in real estate, slightly above its 10 percent target allocation for the asset class.
