Alaska Administrative Code
Title 15 - Revenue
Chapter 137 - Receipt, Custody, Investment, and Management of State Funds
Article 3 - Alaska Permanent Fund Corporation Investment Activities
15 AAC 137.450 - Real estate investments
Universal Citation: 15 AK Admin Code 15 AAC 137.450
Current through August 30, 2024
(a) The assets of the permanent fund may be invested in the following real estate investments:
(1) equity or debt interests in real estate
that is
(A) improved by income-generating
assets; or
(B) to be developed for
commercial purposes;
(2) publicly traded securities in companies
that own or manage equity or debt interests in portfolios of real estate
assets, including common stocks, depositary receipts, preferred stocks,
exchange traded funds, and derivatives based on common stocks or equity indices
(including convertibles, warrants, rights, options, and futures); or
(3) equity interests in real estate operating
companies.
(b) Real estate investments described in (a) of mis section may be:
(1) directly held and managed through a
limited liability vehicle; or
(2)
made through a separately managed account, real estate investment trust, joint
venture, commingled fund, or any other externally managed limited liability
entity.
Authority:AS 37.13.120
AS 37.13.206
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