Alaska Permanent, Pension Funds Invest Offshore

Jun 10 2010 | 9:34am ET

Alaska’s public investment funds have opened up about their $3 billion in hedge fund investments, making good on a year-old pledge after a local newspaper filed a Freedom of Information Act request.

Much of the money invested by Alaska’s $35 billion Permanent Fund and $17 billion Public Employee Retirement and Teacher Retirement Systems is in the hands of offshore managers, the Juneau Empire reports. Most of the hedge fund investments are from the Permanent Fund, which accounts for $2.2 billion of the total.

Alaska investment officials defended their offshore investments, noting that they came through funds of hedge funds. Mike Burns, executive director of the Alaska Permanent Fund, told the Empire that the fund is “agnostic” as to where a fund is based.

“We’re just looking for the best managers, whether they are onshore or offshore,” he said.

The newspaper did not list which hedge funds and funds of funds Alaska invests with.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.