Friday, 24 March 2017
Last updated 1 hour ago
Dec 8 2008 | 12:31pm ET
The Alaska Permanent Fund Corp. has hired buyout shop HarborVest Partners to manage a separate account for the fund with a discretionary, broadly-diversified global mandate.
The Boston-based firm is the second p.e. fund that the Permanent Fund has hired since it began p.e. investments in 2004. Pathway Capital Management currently manages two private equity portfolios for Alaska.
In a separate action, the fund approved a minimum $200 million commitment to HarborVest and Pathway for each of the next five years.
“The board is always looking at ways to make the Permanent Fund`s investments more diverse,” said chairman Steve Frank. “Bringing in new managers who can provide a different approach to the market adds to that diversity. Because of their extensive experience in global private equity, we think HarborVest will be an outstanding addition to our current portfolio.”