Alaska to invest $750m in Abu Dhabi-backed equity firm

Alaska has agreed to invest $750m in funds managed by the Carlyle Group, the US private-equity firm in which Abu Dhabi’s Mubadala Development Company owns a 7.5 percent stake, with the focus mainly on investments in the natural resource, metals, energy and agricultural sectors.

The Alaska Permanent Fund Corporation, an independently managed, state-owned company with an estimated capital of around $46.8bn, will invest in a number of funds through the Carlyle Group.

“The focus of the program will be global natural resource investment strategies,” APFC said in a statement.

Around $375m will be invested in three of Carlyle’s private equity funds: the Carlyle International Energy Partners, NGP Natural Resources XI and a soon to be formed third fund which will focus on agribusiness or metals/mining investments.

A further $375m will be used to fund Carlyle-managed investments focused on sectors such as natural resources, metals and energy.

“These commitments will not be funded immediately; rather they will be drawn down as needed over a period of approximately three years. The funding for capital calls is expected to come from selective reductions across the Fund’s stock portfolios as well as the cash portfolio,” APFC added.

The Alaska sovereign wealth fun also agreed to invest $1bn with Carlyle’s rival Blackstone and $100m with CS Capital to acquire US industrial real estate assets.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Why banking in the Gulf will never be the same again

Why banking in the Gulf will never be the same again

New technologies are emerging in banking and finance at a rapid...

How Gulf SWFs have thrown funding lifeline to tech ventures

How Gulf SWFs have thrown funding lifeline to tech ventures

Saudi Arabia and other Gulf states have ploughed money into hot...

Saudi Arabia signals new investment strategies in $3.5bn Uber deal

Saudi Arabia signals new investment strategies in $3.5bn Uber deal

Deal makes the Public Investment Fund a player in the technology...

Most Discussed
sponsoredTracking