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Alternative Assets  + Real Assets  | 
Alaska Permanent Fund Presses Bet on LS Power, LBC Credit Partners

Alaska Permanent Fund Presses Bet on LS Power, LBC Credit Partners

The Alaska Permanent Fund, which manages $78.3 billion in assets, has selected two funds for its latest alternative investment commitments.

LS Power Equity Advisors, a US power production and infrastructure investor, has received a $100 million commitment for its Fund V, which aims to raise $2.5 billion with a $3 billion hard cap.

The Virginia Retirement System, which committed $150 million last August, is one of the fund’s other limited partners.

Meanwhile, mezzanine vehicle LBC Credit Partners VI secured a $75 million commitment, according to Alaska Permanent’s transaction report. LBC previously raised $808 million for Credit Partners V in 2021 but has not publicly revealed a target for the latest raise.

Alaska Permanent Fund is a prior investor in that fund, as well as LS Power Equity Partners IV.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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