APFC launches In-State Investment Program

In Board of Trustees, Uncategorized by Paulyn

The Alaska Permanent Fund Corporation is pleased to announce the launch of the Alaska Investment Program. Recognizing the opportunity to earn attractive returns by backing emerging private market fund managers and private market investment opportunities in Alaska, APFC’s Board of Trustees, through Resolution 18-03, directed APFC staff to select external private market fund managers to execute an Alaska focused private markets investment program with an initial allocation of $200 million.

Consistent with the requirements of Alaska Statute 37.13.120(c), this strategic approach to identifying and supporting talented private market fund managers and investments within Alaska will target a rate of return and a risk profile consistent with similar investments outside of Alaska.

Following a competitive process, two external fund managers were selected to implement this strategy: McKinley Capital Management, LLC and Barings, LLC.  At a presentation before Accelerate Alaska in Anchorage, CEO Angela Rodell noted “we are excited to get this program underway and look forward to working with these two managers to achieve competitive, market-based investment returns and capture investment potential right here in Alaska.”

McKinley Capital Management, LLC (“McKinley”) was founded in 1990 and today is the largest private financial services company in Alaska. McKinley currently manages approximately $5 billion worldwide for corporate and public pension funds, sovereign wealth funds, and other institutional investors.

A subsidiary of MassMutual, Barings, LLC is a global investment firm dedicated to meeting the evolving needs of clients and customers. Headquartered in Charlotte, North Carolina, Barings LLC and its subsidiaries have $325 billion under management* and maintain a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.   *as of June 30, 2019

Additional information on the In-State Investment program and contact information for McKinley Capital Management, LLC and Barings, LLC is available on our website under ‘What We Do / In-State Investments’.