Jared Brimberry selected as PDI Rising Star 2019

In Uncategorized by Paulyn

APFC congratulates Jared Brimberry, Senior Portfolio Manager, on being selected as one of Private Debt Investor’s (PDI) Rising Stars 2019.  This is PDI’s Inaugural List of up-and-coming private credit investors under 40 years of age and was developed based on nominations from the market, as well as the publication’s editorial team.

Marcus Frampton, APFC’s CIO, notes “I am not surprised to see the attention and recognition Jared is receiving in the industry; I believe that our private credit co-investment efforts are yielding strong benefits for APFC’s stakeholders and I’m very pleased with Jared’s work on that and on the overall private credit portfolio.”

Jared has been with APFC since 2016 and has helped develop the APFC’s Private Credit program from its roots as a fund-of-fund driven approach to today’s approach of investing directly as a limited partner in funds and acting as an active co-investor with our partners.  He is an integral part of the APFC team and took a lead role in developing the $1 billion Alaska Direct Alternative Credit Program, a hybrid credit effort that brings together APFC’s fixed income and private market teams with coverage of liquid high yield and illiquid co-investments.

 

Article available through registering with PDI’s online publication: https://www.privatedebtinvestor.com/private-debts-rising-stars/

 

 

 

Alaska Permanent Fund Selected as North American Limited Partner Investor of the Year for 2018

In Uncategorized by Paulyn

The Alaska Permanent Fund Corporation (APFC) is pleased to announce that our team has been recognized for the second year in a row as the North American Private Equity Institutional Limited Partner (LP) Investor of the Year for 2018 by Private Equity International magazine. APFC’s Private Equity and Special Opportunities portfolio holds assets valued at over $8.4 billion, and generated an exceptional return of 32.70% in FY18, and 23.84% annualized over 5 years for the same time period.

Steve Moseley, Head of Alternative Investments for the Alaska Permanent Fund Corporation, notes that: “Private equity and venture capital are long-term investment strategies that align well with the Permanent Fund’s multi-generational mission.”

APFC is proud of the work that our team is doing, and it is wonderful to see our efforts in developing the private markets’ portfolio continue to be recognized in the industry.

PEI 2018 Awards_LP_Alaska

The APFC Board of Trustees Review Market Outlook and Strategic Direction

In Uncategorized by Paulyn

The Board of Trustees held its quarterly meeting in Juneau, Alaska on February 27-28, 2019 to review the performance of the Fund through the first half of fiscal year 19 (FY19) and to review current market outlook and strategic initiatives being pursued by each of APFC’s asset class teams.  This review included a comprehensive discussion around the Fund’s Risk Parity, Currency Overlay and Cash Overlay programs (together known as the Asset Allocation portfolio).  The Board of Trustees also discussed future priorities for the Corporation.  …

Full News Release: 2019FEB_APFC BOT Quarterly Meeting

 

APFC Quarterly Board of Trustees Meeting

In Uncategorized by Maggie Meiners

The Alaska Permanent Fund Corporation (APFC) will hold its Quarterly Meeting of the Board of Trustees on February 27-28, 2019 in Juneau, AK. The public is invited to attend this meeting in-person or by webinar; please see the agenda (linked below) for information.

Agenda items include: asset class updates, a performance review of the portfolio from Callan LLC, as well as presentations on risk parity, foreign currency hedging, and liquidity overlay strategies.

Agenda

Alaska Permanent Fund Returns -3.19% for the first half of FY19

In Uncategorized by Paulyn

The Alaska Permanent Fund’s (Fund) investments fell 3.19% in value in the first half of fiscal year 2019 (FY19) and the Fund ended December 31, 2018 with net assets under management totaling $60.4 billion, comprised of $43.7 billion in the Principal of the Fund and $16.6 billion in the Earnings Reserve Account.  Despite a significant decline in US and international stock markets, the Alaska Permanent Fund mitigated these public market dips due to its diversified approach to investing.

Angela Rodell, Chief Executive Officer, notes that “within a long term investment horizon, it is anticipated that the global markets will go up and down – it is part of the buying – selling – trading process of the portfolio’s holdings. And while we invest with the intent that they go up more than they go down, there are going to be dips.  Our team is poised to take advantage of those market dips.”

201902_APFC FY19 Q2 Performance

Alaska Permanent Fund FYTD19 Second Quarter Financials

In Uncategorized by Paulyn

The Alaska Permanent Fund (Fund) ended the first half of fiscal year 19 (FY19) on December 31, 2018 with total net assets under management valued at $60.4 billion (unaudited).

The Fund is comprised of two accounts, the Principal and the ERA, that are invested using the same asset allocation with pro-rata shares attributed to each account. As of December 31, 2018, the value of the Principal totals $43.8 billion, comprised of $40.4 billion in constitutionally protected deposits and $3.4 billion in unrealized gains. For the same time period, the value of the ERA totals $16.6 billion, comprised of $15.3 billion in realized earnings and $1.3 billion in unrealized gains.

Performance results for the first half of FY19 are forthcoming and will be accompanied by a news release once they are final.

 

RFI issued in Connection with Alaska In-State Private Markets Manager Search

In Uncategorized by Paulyn

In response to Resolution 18-03: Supporting An In-State Emerging Manager Program, APFC has issued a Request for Information (RFI) to inform the hiring of an investment management firm to provide services in support of an In-State private markets-focused investment mandate.

Resolution 18-03, approved at APFC’s Annual Meeting on September 27, 2018, directs the implementation of an In-State Emerging Manager program with an initial allocation up to $200 million within the Private Equity and Special Opportunities Asset Allocation. The goal of the Emerging Manager Program is to seed new private equity or venture capital fund managers in Alaska.  Because the vetting of first time fund managers is a time and resource intensive task, the resolution directs APFC Staff to work with an external manager to oversee the program.

Links to the RFI and the Resolution 18-03 are noted below:

AK In-State Private Markets Manger RFI

Resolution 18-03 In-State Emerging Manager Program

The APFC Board of Trustees Review Fund Performance and Risk Components

In Uncategorized by Paulyn

The Board of Trustees held its quarterly meeting in Juneau, Alaska on December 11-12, 2018 to review the performance of the Fund through September 30, 2018, consider the components of a comprehensive risk program, and learn about the 2019 market forecast from the Alaska Permanent Fund Corporation’s (APFC) investment partners.

The full news release is available at: 20181212_APFC BOT Quarterly Meeting

APFC Quarterly Board of Trustees Meeting

In Uncategorized by Danielle Graham

The Alaska Permanent Fund Corporation (APFC) will hold its Quarterly Meeting of the Board of Trustees on December 11-12, 2018 in Juneau, AK. The public is invited to attend this meeting in-person or by webinar; there will be an opportunity for public comment and participation.  Agenda items include: risk overview, review of the compensation committee, asset class updates, a performance report from Callan Associates, and a macro overview and 2019 outlook panel.

01_Agenda

APFC Quarterly December 11-12 BOT Packet