Alaska Permanent Fund Corp., Juneau, approved new allocations of up to 2% of total assets in private equity and up to 1% in a pilot absolute-return program that will be conservatively structured. Pathway Capital Management was hired in December as the $28 billion system's private equity gatekeeper. Also, the plan's target international equity allocation was raised to 18% from 16%, and fixed income was reduced to 32% from 37%. A potential search for a fixed-income manager was postponed until the fund's June meeting.
Separately, Robert Storer, executive director, announced he will retire effective June 1. Mr. Storer said he would remain on the job longer for a smooth transition, according to a news release.