Alaska Permanent Weighs PE Allocation Shift

Alaska Permanent Fund Corporation is weighing potential changes to its private equity allocation as part of a broader portfolio review. The $86.3B sovereign wealth fund is evaluating shifts toward public equities and fixed income, with private equity currently targeted at 18% and actual exposure near 17%, alongside roughly $8B in unfunded commitments and an annual commitment pace of about $1.5B. Trustees are expected to vote in May, with staff emphasizing tighter manager selection standards and closer scrutiny of valuations and liquidity.

Allocator activity continued elsewhere. New Mexico’s State Investment Council approved up to $415M across private equity, private credit, and venture, including $300M to Neuberger Berman Eagle Fund, $100M to Kinderhook Strategic Opportunities Fund I, and $15M across two Acequia Capital Origin vehicles. Vermont’s Pension Investment Committee outlined a $535M private markets pacing plan, spanning $200M to private equity, $100M to non-core real estate, and roughly $235M to private credit.

On the GP side, Updata Partners closed its eighth growth equity fund at an $875M hard cap above an $800M target, drawing commitments from multiple US public pensions. GCM Grosvenor raised $625M at second close for its structured alternatives solution focused on credit secondaries. Vesper Infrastructure Partners is preparing to launch a second Europe-focused infrastructure fund as its debut vehicle approaches a reported €1B close.

In people moves, The Health Foundation appointed Alex Schoenfeldt as CIO, and Knights of Columbus Asset Advisors named Deepak Devaraj president and CIO.

Read on for all the day’s fundraising news headlines.

In a new overview by our Head of International, James Goodman, we break down how the $430B merger of Stanhope Capital Group x Stonehage Fleming x Corient reshaped the European multi-family office landscape.

2026 platforms to watch:

• Stanhope Capital Group / Corient ($430B, London) – Institutional-scale allocator; $29–$59M pooled tickets; structured co-invest as standard.
• Marcuard Family Office ($6.8B, Zurich) – Swiss fiduciary model; $18–$35M commitments.
• Crescendo Group ($3B, Geneva) – Endowment-style; $12–$29M tickets.

European MFOs now deploy larger pools, tighter underwriting, and long-term capital partnerships.