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

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note