The Alaska Permanent Fund Corporation (APFC) Board of Trustees will hold their Quarterly Meeting on May 19-20, 2021. The public is invited to attend this meeting via Webinar (information listed on the agenda linked below) or in person at the address below*. There will be an opportunity for public comment and participation at 8:30 a.m. when the meeting commences. If the public wishes to sign up for public comment, please indicate so when registering via WebEx. If you have any issues registering for public comment, please reach out to Jennifer Thorsteinson (jthorsteinson@apfc.org) at least one business day before the meeting.

*Please note that while APFC’s May Quarterly Board of Trustees meeting will be open to the public, the Andrew Hope Building (320 W Willoughby Avenue) where the meeting will be held has limited entry at this time.

Please park in a parking lot on either side of the building (but not in a space reserved for any individuals). Enter through the double doors towards the middle of the building and let security know you’re there for the APFC Board Meeting. Please plan to arrive early to sign in and have a temperature check required to enter the building. Upon entering the Elizabeth Peratrovich Hall there will be an APFC sign-in sheet for all members of the public.

May 19-20, 2021 APFC Board of Trustees Quarterly Meeting Agenda

May19-20, 2021 APFC Board of Trustees Quarterly Meeting Packet

The Alaska Permanent Fund Corporation (APFC) Board of Trustees will hold an Audit Committee Meeting on May 18, 2021. The public is invited to attend this meeting via Webinar (information listed on the agenda linked below) or in person at the address on the agenda. There will be an opportunity for public comment at 2:30 p.m. when the meeting commences. If the public wishes to sign up for public comment, please indicate so when registering via WebEx. If you have any issues registering for public comment, please reach out to Jennifer Thorsteinson (jthorsteinson@apfc.org) at least one business day before the meeting.

May 18, 2021 APFC BOT Audit Committee Agenda
APFC Board of Trustees Audit Committee Meeting Packet

The Alaska Permanent Fund Corporation has recently added two experienced professionals, Chirag H. Shah, Senior Portfolio Manager, and Nader Sohraby, Senior Associate, to its $13B+ Private Equity and Special Opportunities team.

Steve Moseley, Head of Alternative Investments at APFC, said: “We are very excited that Chirag and Nader have joined us to expand our capabilities and help deliver excellent investment returns for the benefit of all Alaskans.”

Chirag has over 15 years of industry experience globally, including ten years leading private equity fund investments and co-investments at DB Private Equity and GE Asset Management.  He started his career in investment banking at Citi / Salomon Smith Barney in New York and Singapore.  Chirag is also actively engaged in the broader PE community, serving as an advisory board member of the Hicks, Muse, Tate & Furst Center for Private Equity Finance at The University of Texas at Austin and involved with SEO’s Alternatives Investments program, which is focused on improving opportunities in the alternatives industry for traditionally underrepresented communities.  He holds an MBA and BBA from The University of Texas at Austin.

Nader has five years of investment banking experience, most recently at J.P. Morgan in New York, where he focused on mergers and acquisitions and capital formation across the healthcare industry.  Prior to J.P. Morgan, he worked in investment banking at Citi in New York.  He began his career at Goldman Sachs in its Global Investment Research division.

Private Equity International recently recognized APFC as the 2020 LP of the Year in North America. This is the third year the team has won, having also been recognized by peers in 2017 and 2018.  These honors reflect the Private Equity and Special Opportunities team’s ongoing commitment to developing a worldwide competitive investment strategy with partnerships that contribute to successfully fulfilling APFC’s mandate.

2021_04_APFC Private Equity Team

APFC’s Board held a virtual workshop to review the long-term asset allocation plan for the Alaska Permanent Fund and the capital market projections provided by Callan, APFC’s general consultant.

Asset allocation is a primary component of a long-term, risk-adjusted return and is based on strategic decisions: return objective, risk appetite, liquidity need, and resources.

Angela Rodell, Chief Executive Officer, states that ‘this workshop provided an important foundation to understanding the Fund’s asset allocation and the impact of any changes. Changes to the portfolio are not made lightly, as the stability of the Alaska Permanent Fund is so vital to the stability of the State.

The Board of Trustees will consider any action to change the asset allocation at their next meeting, scheduled for May 19-20, 2021, in Juneau, Alaska.

News Release – APFC Asset Allocation Workshop

The Alaska Permanent Fund Corporation (APFC) Board of Trustees will hold an Asset Allocation Workshop on April 5, 2021. The public is invited to attend this meeting via Webinar (information listed on the agenda linked below) or telephonically. There will be an opportunity for public comment and participation at 1 p.m. when the meeting commences. If the public wishes to sign up for public comment, please indicate so when registering via WebEx. If you have any issues registering for public comment, please reach out to Jennifer Thorsteinson (jthorsteinson@apfc.org) at least one business day before the meeting.

Asset Allocation Workshop Agenda
Asset Allocation Workshop Packet

APFC congratulates Angela Rodell on being elected Chair of the Pacific Pension & Investment Institute’s (PPI) Board of Directors.

CEO Angela Rodell was elected to serve as the Chair during PPI’s Annual Meeting on February 24, 2021.

“Angela is deeply respected among her investment peers and the global PPI Community. She has brought tremendous insight to PPI’s board, and we look forward to continued progress in serving our institutional investor membership under Angela’s capable leadership,” said PPI President Lionel Johnson.

About PPI: Pacific Pension & Investment Institute (PPI) is a global organization with individual and institutional members from leading pension funds, sovereign wealth funds, endowments, foundations, commercial asset management and other investment experts.

PPI has held forums for over two decades that inform the investment decisions of the world’s major institutional investors as they relate to Asia and the Pacific Rim.

Juneau – The Board of Trustees held its quarterly meeting via webinar on February 17-18, 2021 to consider the Alaska Permanent Fund’s mid-fiscal year performance, assess risk appetite for the portfolio, review capital markets insights, and assess the long-term asset allocation.

The Board adopted a quantitative risk metric to support its comprehensive asset allocation review. APFC’s risk appetite is defined in terms of a Risk Tolerance Portfolio based on an 80/20 Equity/Bond mix and a Liquidity level floor for the combined allocation to Public Equities, Fixed Income and Cash.

Chair Moran noted that “the adoption of this metric provides the Board with an additional benchmark tool for the long-term investment of the portfolio. The Trustees have an established target return level, and we now have identified a risk appetite to provide a framework for the asset allocation and a reference for the overall risk tolerance in the portfolio.”

As the meeting concluded, Chief Executive Officer Angela Rodell remarked that “asset allocation is the most important undertaking we do. It is the foundation that generates return and minimizes risk. The work done by the Trustees at this meeting, the upcoming asset allocation workshop, and the board meeting in May is instrumental in delivering on Alaskans’ expectations. It is equally imperative to note that we rely on Alaskans to provide us with the stability we need to inform our decisions.”

The next meeting of the Board of Trustees will be held in Juneau, Alaska, on May 19-20, 2021.

Full News Release_APFC BOT Meeting Q2