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.