Alaska Permanent Picks New CIO From New Jersey Hedge Fund

Oct 14 2011 | 7:49am ET

Having lost a former hedge fund manager as its chief investment officer earlier this year, the Alaska Permanent Fund has hired another.

Jay Willoughby was named to the post, which he'll start on Nov. 1. He joins the fund from hedge fund Ironbound Capital Management, which is based in New Jersey.

Willoughby plans to move to Juneau to run the sovereign wealth fund.

Prior to joining Ironbound, he worked at Merrill Lynch and AEW Capital Management.

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