David Fallace is expected to join the Alaska Permanent Fund Corp., Juneau, as senior portfolio manager overseeing the $44.8 billion sovereign wealth fund's externally managed special opportunities portfolio, effective Feb. 15, confirmed Laura Achee, director of communications and administration.
It is a new position.
Mr. Fallace will report to Jay Willoughby, chief investment officer, who currently oversees the portfolio, which has $7.9 billion in strategies seeking market inefficiencies.
Mr. Fallace was vice president, business development, at Haugen Custom Financial Systems; he left at the end of January.
Jan Bowler, president, Haugen Custom Financial, said the firm is close to hiring a candidate and isn't seeking more applications. The firm, which markets a quantitative investment model to institutional investors, expects to fill the position by the end of February. In the interim, staff members are assuming his duties.
The external managers for the special opportunities portfolio managers are Mariner Frontier Fund, which manages $1.1 billion, Crestline Investors, $1 billion, and Lazard Alternatives, $373 million, all in absolute-return strategies; Oaktree Opportunities Fund VIII, $264 million in distressed debt; Bridgewater, $654 million, AQR Capital Management, $614 million, GMO, $613 million, Goldman Sachs, $666 million, and Pacific Investment Management Co., $628 million, all in real-return strategies; Capital Guardian, $549 million in emerging markets high-yield debt; Capital Guardian, $446 million and PIMCO, $460 million, both in other emerging markets opportunities; and American Homes 4 Rent, $600 million in real estate.