Private Markets Associate/Senior Associate

Associate/Senior Associate – Private Markets

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.

Key Responsibilities

• Support the sourcing, execution, and monitoring of fund commitments, co-investments, and direct investments across strategies and industries
• Assist in the evaluation of prospective investment opportunities, including; valuation, market trends, competition, and other key investment risks and merits
• Develop quantitative models to assess potential investments, investment themes, portfolio construction, and investment pacing
• Conduct research on investment themes and perform special projects as needed
• Prepare materials for, and participate in, internal meetings and external due diligence
• Monitor current investments and maintain internal pipeline and investment reports
• Prepare quarterly board meeting material and assist with accounting, finance, or administration functions when needed
• Develop and maintain relationships with industry participants including other limited partners, general partners, and industry experts
• Screen new opportunities and recommend investments for which full due diligence should be conducted

The successful candidate will have the following qualities:

• Self-motivation and very strong sense of personal and professional integrity
• Intellectual curiosity and excellent attention to detail
• Humility, tenacity, and professional flexibility
• A belief that great outcomes come from great teams; a demonstrated ability to collaborate well in a small, informal team environment
• Ability to collaborate across investment teams and the entire organization
• Solid project management skills, including successfully interacting in multiple time zones
• Strong commitment to APFC’s vision and its shared values of integrity, stewardship and passion

Required Qualifications

APFC seeks to hire individuals who are highly motivated, have demonstrated excellence in prior endeavors, and have the following qualifications:

• A bachelor’s degree and 2-3 years of directly relevant work experience
• Sound working knowledge of portfolio management, business strategy, transaction execution (M&A), capital markets, accounting, and private equity or hedge fund investments
• Ability to manage multiple tasks simultaneously and meet tight deadlines
• Excellent verbal and written communication skills
• High level proficiency in mathematics, Microsoft Excel, and financial modeling 
• Ability to perform cash flow, valuation, and capital structure analysis
• Effective presentation skills
• Exceptional critical thinking skills

Preferred Qualifications

• Interest in a post-graduate degree or advanced professional designation (e.g., CFA)
• Direct investment or manager selection experience in private markets or hedge funds

Positions

• Associate – APFC will consider candidates with the required and preferred qualifications
• Senior Associate – APFC will consider candidates that exceed the required qualifications and can be expected to demonstrate excellence in the key responsibilities.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may be added, removed or changed at any time with or without notice.

AAP / EEO Statement

APFC provides equal employment and advancement opportunities to all.  APFC follows all applicable Federal and State laws and does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, age, disability, or any other class protected by law.

Private Equity Overview

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.