Searches and hires

Alaska Community Foundation trawling for investment consultant

Alaska Community Foundation, Anchorage, is searching for an investment consultant, said Kevin Gray, chief financial officer.

The foundation is conducting the search to uphold its fiduciary duties, Mr. Gray said, adding it's been five years since consulting services were put out to bid.

Current consultant Fund Evaluation Group is invited to rebid, he said.

The RFP is on the foundation's website; proposals are due by 4 p.m. Alaska time Oct. 6. A decision is expected by year-end.

As of June 30, the foundation had roughly $72 million in assets and an asset allocation of 27.9% fixed income, 20% large-cap equities, 14.4% hedge funds, 12.4% emerging markets, 12.3% international equities, 7.7% public natural resources, 2.2% private debt, 1.5% real estate, 1.2% private equity, and 0.4% private natural resources.

The foundation also recently approved expanding its passive allocation to domestic equity, international equity and investment-grade fixed income to between 75% and 100% from about 13% now, Mr. Gray.

The selected firm will be expected to assist with implementation. Manager decisions have not yet been made, Mr. Gray said.