JUNEAU, Alaska — The Alaska Permanent Fund Corp. hired nine managers in the $30 billion system's plan to create a pool of active domestic small-cap equity managers, said Richard Shafer, chief investment officer. The new managers are DuPont Capital Management, Jennison Associates, Luther King Capital Management, PENN Capital Management, Kalmar Investments, Voyageur Asset Management, Washington Capital Management, Forstmann-Leff and Peregrine Capital Management. Three firms that already run a total of $400 million in domestic small-cap portfolios were also added to the pool: Martingale Asset Management, Turner Asset Management and Cordillera Asset Management. Callan Associates assisted.
The managers are replacing Capital Guardian, which was terminated from a $545 million active domestic small-cap equity portfolio for performance, Mr. Shafer said. CapGuardian continues to run an $800 million active EAFE portfolio and a $400 million active emerging market portfolio for the Alaska fund. Chuck Freadhoff, CapGuardian spokesman, said it is the firm's policy not to discuss clients and their actions.
Managers in the pool will start out "more or less evenly funded," said Mr. Shafer.