FUND NEWS                               Nov 05, 2012

Board makes additional investment in single-family homes strategy

NOV 5 - The Alaska Permanent Fund Corporation Board of Trustees approved an additional $200 million allocation to a single-family homes strategy at a special meeting held in Juneau on November 5. The Board approved an initial investment of $400 million to the strategy, which is managed by American Homes 4 Rent, in May of this year.

“The Board and staff are pleased with the progress American Homes 4 Rent is making in purchasing homes across the lower 48 states for use as rental properties,” said Michael J. Burns, CEO. “We have confidence in the process that they are using, and the Board felt at this time that it made sense to make an additional allocation to the program.”

American Homes 4 Rent purchases foreclosed homes and manages them as rental properties. The Alaska Permanent Fund provides capital for the acquisition of these properties, but is not directly involved in the purchase or management process.