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Alaska to invest in funds handled by the Carlyle Group

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July 23
8:04 AM 2013

The Alaska Permanent Fund Corporation agreed to invest US$750 million in funds handled by the Carlyle Group. Mubadala Development Company owns 7.5% stake claim in the Carlyle Group, a US based private equity firm. The Carlyle Group mainly handles investments in energy, metals, natural resources and agricultural sectors.  The Alaska Permanent Fund Corporation committed that they will invest in funds through the Carlyle Group. Alaska, a state owned company, has an estimated capital of US$46.8 billion.

"The focus of the program will be global natural resource investment strategies. 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 said in a statement.

Alaska committed US$375 million in three Carlyle private equity funds, namely; NGP Natural Resources XI, the Carlyle International Energy Partners and soon to be established fund that will focus on metals, energy and natural resources.

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