The Alaska Permanent Fund is set to approve a $700 million investment to private equity assets for the next financial year.
The fund's board of trustees is also expected to commit a further $290 million to private equity investments for the remainder of this financial year.
Besides the new allocation, the board is streamlining its policies into two documents.
Steve Frank, chair of the board, said pulling together its documents would make their policies more transparent.
"In the past we had a handful of resolutions that addressed the management of each of our asset classes and were separate from the mutual on how we invested. We also had separate board charters, as well as governance procedures that were not codified in writing," said Frank.