- Juneau, Alaska
- Base Compensation + Bonus Eligible
- Dec 07, 2022
- Jan 06, 2023
- Job Function
- Credit Analysis, Portfolio Management: Alternatives
- Industry Sector
- Asset Owner, Finance - General, Government
- CFA Charterholder, Passed CFA Level I, Passed CFA Level II, Passed CFA Level III (Charter Pending)
- Employment Type
- Full Time
The Alaska Permanent Fund Corporation (“APFC”) manages the $70+ billion Alaska Permanent Fund, a sovereign wealth fund established in 1976 to provide for all current and future generations of Alaskans. We are looking for an associate to join to our Private Income investments team.
The associate is responsible for assisting the Private Income Portfolio Managers in the identification, evaluation, selection, and monitoring of investments in their respective portfolios. The Private Income 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 into attractive opportunities, the Private Income team seeks to deliver accretive risk-adjusted returns over the long term.
About the Private Income Team
The APFC Private Income Portfolio consists of Infrastructure, Private Credit, and Income Opportunities sub-portfolios, and currently represents a 9% target allocation of the Total Fund. This position will work on all aspects of the Private Income portfolio.
Infrastructure investments involve the purchase of critical assets with high barriers to entry and, due to the “essential services” nature of the assets, often result in low elasticity of demand. Infrastructure investments may include, but are not limited to, energy infrastructure, transportation, water infrastructure, telecommunications, and social or other infrastructure. These investments are typically executed through externally managed limited liability funds, co-investments, or direct investments into operating companies.
Private Credit and Income Opportunities investments involve the ownership of higher-yielding, illiquid investments covering a range of risk/return profiles. The Private Credit portion of this portfolio targets externally managed limited liability funds, co-investments, and direct investments into operating companies that target one or more of the following strategies: direct lending, subordinated and mezzanine lending, distressed debt, and opportunistic credit-oriented funds, with the flexibility to pursue illiquid and liquid strategies.
The Income Opportunities portion of this portfolio targets private markets investments with an objective of income generation and downside protection, but which do not fit neatly into other portfolios. This currently includes, but is not limited to, investments in timberlands, agriculture, life settlements, leasing and royalty strategies, and structured credit.
The successful candidate will have the following qualities:
• Commitment to APFC’s vision and its shared values of integrity, stewardship, and passion
• Self-motivation and strong sense of personal and professional integrity
• Intellectual curiosity and excellent attention to detail
• A belief that great outcomes come from great teams and a demonstrated ability to collaborate well in a small collaborative team environment
• Unquestionable personal and professional integrity
• 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 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 materials 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 funds for which full due diligence should be conducted with the assistance, if needed, of external advisors
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 (successful completion of MBA program can substitute for 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
• Interest in a post-graduate degree or advanced professional designation (e.g., CFA or CAIA)
• Direct investment or manager selection experience in private markets or hedge funds
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.
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.