Alaska Permanent Fund Corp, Juneau, hired four international developed markets equity managers to run $100 million each, said Laura Achee, spokeswoman for the $52.4 billion sovereign wealth fund.
J.P. Morgan Asset Management and Johnston Asset Management were hired for growth and LSV Asset Management and Schroder Investment Management were hired as value managers.
Funding for the allocations will come from rebalancing of the equity portfolio with no terminations. The search was conducted for diversification purposes, the release said.
Current international value managers, according to the fund's website, are Acadian Asset Management and Dimensional Fund Advisors; the current growth manager is GE Asset Management.
