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Sovereign Wealth Funds

Read leaving Alaska Permanent Fund

Russell Read, CIO, Alaska Permanent Fund
Russell Read

Russell Read, chief investment officer of the Alaska Permanent Fund Corp., Juneau, has resigned, the $65.1 billion sovereign wealth fund announced in a news release.

Mr. Read, who has been CIO since May 2016, has resigned to pursue an opportunity based in London, the news release said. Further information was not immediately available.

Marcus Frampton, director of investments, real assets and absolute return, has been named acting CIO while CEO Angela Rodell and the board of trustees begin a search process for a permanent replacement.

Before his arrival at APFC, Mr. Read was CIO and deputy CEO of Gulf Investment Corp., Kuwait, a state-owned investment company that promotes economic growth and diversification across the Gulf Cooperation Council's six member states — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. From 2006 to 2008, he was CIO of the $354.7 billion California Public Employees' Retirement System, Sacramento.