Robert Storer, executive director of the $28 billion Alaska Permanent Fund Corp., Juneau, announced he will retire effective June 1. Mr. Storer said he would remain longer if necessary for a smooth transition, according to a news release. The board is expected to begin a search for a new executive director in the next few weeks. It has not been decided whether an executive search firm will be used.
Separately, the fund 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 fund'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%.
