trending Market Intelligence /marketintelligence/en/news-insights/trending/teuwpjhgltih4z-9q7cogg2 content esgSubNav
In This List

Alaska Permanent Fund sells stake in residential RE developer for $1.4B

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


Alaska Permanent Fund sells stake in residential RE developer for $1.4B

Alaska Permanent Fund Corp., or APFC, sold its 50% stake in multifamily-focused residential developer and manager Simpson Housing for $1.4 billion to an undisclosed buyer, IPE Real Assets reported.

The sale marks the disposal of roughly one-quarter of APFC's $5.62 billion real estate portfolio, bringing its real estate exposure to 6.4%, well below its 11% real estate target allocation. The fund's new investment policy calls for real estate to make up 12% of APFC's asset portfolio by 2020 and 13% by 2021.

The publication, citing a board meeting document, said APFC plans to increase its real estate exposure by allocating more capital to global real estate fund managers. The fund expects to invest an additional $1 billion into real estate over the first six months of the year, having committed that amount during the second half of 2017.

The new policy involves deploying capital on higher-return funds and executing co-investments. The publication noted that APFC has historically invested mainly in direct core real estate investments through separate accounts.