The $36.7 billion Alaska Permanent Fund Corp. increased its target allocation to infrastructure to 4 percent from 3 percent at its annual meeting Sept. 29-30.
“We try to build a portfolio that will help stabilize returns across a range of economic conditions, rather than responding to what is happening in the markets,” says Bill Moran, the Permanent Fund’s board chair. “These are relatively small changes, but important for the long-term success of the Permanent Fund.”
The Alaska Permanent Fund also approved changes to the infrastructure investment policy to allow investments in infrastructure funds based on the recommendation of an independent fiduciary, and to add authority to co-invest subject to a board-approved process. According to a release, these investment processes have been available under the fund’s regulations, which were last amended in 2005, but were n