Preeti Singh
The fundraising lasted 18 months and 40% of the capital came from new investors.
The pension system’s private equity portfolio has been criticised for its cost and number of manager relationships.
The veteran VC firm invests in technology and healthcare companies, and has maintained consistent performance through leadership transitions.
The firm has been co-investing with large institutions and raising capital on a deal-by-deal basis in private equity in the US until now.
Governor Phil Murphy’s anti-private equity rhetoric during his campaign triggered a hold on commitment but the state’s pension system wants to re-establish its standing.
Alaska Permanent Fund’s co-investment programme has consistently outperformed its fund portfolio.
The firm’s investments are skewed towards transformational and off-the-beaten path transactions, which have generated higher returns.
New geographies and products boosted the leading firms' fundraising efforts.
The private equity firm will continue to focus on Europe's lower mid-market.
Nate Sleeper will take over from Donald Gogel as chief executive on 1 January, with David Novak and Rick Schnall becoming co-presidents.