The Alaska Permanent Fund Corporation (“APFC”) manages the ~$80 billion Alaska Permanent Fund, a sovereign endowment established in 1976 to provide for all current and future generations of Alaskans. We are growing and are looking to add a top-notch associate to our world class Private Markets team.
The associate is responsible for assisting the Director and Portfolio Managers in the identification, evaluation, selection, and monitoring of investments in their respective portfolios. APFC expects that an associate will primarily focus on Private Equity, however due to the small, collegial nature of the team will have the opportunity to work across Private Markets. The Private Markets team focuses on building diversified portfolios through fund investments, co-investments, and direct investments. By combining best-in-class manager selection with the ability to strategically deploy capital directly into attractive opportunities, the Private Markets team seeks to deliver accretive risk-adjusted returns over the long term.
The Private Equity & Special Opportunities team manages approximately $15B across a diverse portfolio of investments as of June 30, 2021.
In Private Equity, APFC makes fund investments, co-investments, and direct investments in private equity, venture capital, and other illiquid, alternative investment opportunities. The team oversees the investment process from opportunity identification through evaluation, structuring, negotiation, execution, management, and exit. We aim to establish and develop robust and lasting relationships with exceptionally talented fund managers and help them create value in their partnerships and in their portfolios. For co-investments, we focus on non-control positions well-diversified across company stage, industry and geography in growing, innovative companies.
In Special Opportunities, we leverage our scale and stable, long-term capital to source, evaluate and execute high conviction, higher concentration, theme-driven investments. The team operates with a flexible mandate centering primarily around situations stemming from unusual supply and demand imbalances, capital flight, structural complexities, or unique opportunities with asymmetric payoffs. Investments cover a wide spectrum, including directly-sourced venture capital, real estate and private equity transactions, strategic co-investments alongside GPs, and ownership stakes in differentiated investment management firms.
The combined Private Equity and Special Opportunities portfolio represents a 15% target allocation of the overall fund, and is slated to grow to 19% by fiscal year 2025.