Alaska Permanent invests in opportunistic real estate debt
The Alaska Permanent Fund Corp. has decided to back a newly launched opportunistic real estate fund managed by Kayne Anderson Capital Advisors.
The sovereign wealth fund has approved a $200 million commitment to the Kayne Anderson Real Estate Opportunity Debt (KAROD) fund, which hit the market in January. An equity fundraising target has not been disclosed for the fund.
The sovereign wealth fund could not be reached to comment on the investment at the time of publication.
Kayne Anderson Real Estate invests in alternative commercial real estate sectors that are characterized by lack of capital, operational intensity, fragmented ownership and recession-resistance, according to the firm’s website.
Kayne Anderson invests in medical office, seniors housing, student housing and self-storage across three types of funds: opportunistic equity, real estate debt and open-end core equity.
The firm launched its first opportunistic equity fund in 2007, its fir