Alaska Permanent Fund Corp., Juneau, is searching for a second manager to serve as gatekeeper for the funds $747 million private equity allocation, confirmed Mike Burns, executive director of the $34.5 billion fund.
The selected firm will join Pathway Capital Management, which has served as the sole private equity gatekeeper since the fund entered the asset class in 2004.
Weve been very pleased with Pathway, Mr. Burns said. Were hiring an additional gatekeeper to get a different perspective.
Mr. Burns said the new gatekeeper will have the discretion to commit assets to general partnerships. They interview and ascertain the suitability of investing in those partnerships for us, he said.
Managers can get the RFP from and also send proposals to Gary Robertson at Callan Associates, the funds investment consultant, at [email protected] Proposals are due Oct. 1. Fund officials expect to select a firm by the end of the year, Mr. Burns said.