Three Big Financial Players Form Joint Venture

The Alaska Permanent Fund Corp., the Public Institution for Social Security of Kuwait and U.K. pension fund RPMI Railpen formed a joint venture to back new private-equity and other alternative mangers.

The founders of the new entity, called Capital Constellation, initially will commit $700 million to the joint venture, which is expected to deploy more than $1.5 billion in the next five years, according to a news release.

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