Alaska Retirement Adds $50M to Private Equity Portfolio

The Alaska Retirement Management Board approved a $50 million increase to its $1.8 billion private equity program in November.

According to a report by consultant Callan, the $10.7 billion pension system was around 2.7% above its investment target, with much of the funding going toward buyouts of more mature businesses.

Clearlake Capital Partners VII received the $50 million allocation, which is the latest in a series of investments to the firm, which has already committed capital from Alaska in its buyout funds Clearlake Capital Partners VII and Clearlake Capital Partners VI.

Clearlake Capital Partners VII targets control-oriented buyout and special situation investments in North America and has received capital from Louisiana Teachers’ Retirement System and Connecticut Retirement Plans and Trust Funds as well.

For the year ending September 30, Alaska’s private equity program returned 3.8%, according to reports at its December trustee meeting.