Barings and Alaska Permanent Fund Corporation Announce Launch of Alaska Investment Program
Oct 03, 2019
The Alaska Permanent Fund Corporation, a state owned corporation that manages the assets of the Alaska Permanent Fund on behalf of current and future generations of Alaskans, and Barings, one of the world’s leading financial services firms, today announced the launch of the Alaska Future Fund.
The program, which has an initial commitment of $100 million, seeks to identify and support private funds and private market businesses/projects that are either based in Alaska, have investment operations in Alaska or have a current bona fide plan to operate in Alaska. The Alaska Future Fund will invest in businesses and projects that support core sectors of the Alaskan economy, including, but not limited to, real assets, natural resources, transportation and infrastructure, to grow the Alaskan economy and foster the next generation of private market opportunities in the state of Alaska.
“With the launch of the Alaska Future Fund, Barings is seeking investment opportunities that will benefit Alaska’s development and generate strong market-based investment returns,” said Mina Pacheco Nazemi, Managing Director at Barings Alternative Investments. “These investments may be in the form of capitalizing fund managers or investing alongside fund managers in businesses or projects.”
“The Alaska Future Fund addresses a pressing need faced by many institutional investors and communities seeking access to unique infrastructure and real assets projects, and aims to help catalyze growth in Alaska’s local market,” said Anthony Sciacca, Head of Barings Alternative Investments. ”The program is consistent with Barings’ approach of seeking to provide investment solutions for its clients and we are looking forward to launching this partnership,” said Anthony Sciacca, Head of Barings Alternative Investments.
“We are excited to get this program underway and look forward to working with Barings to achieve competitive, market-based investment returns and capture investment potential right here in Alaska,” said Angela Rodell, CEO of The Alaska Permanent Fund.
About Alaska Permanent Fund Corporation
The Alaska Permanent Fund Corporation was created by the Alaska Legislature in 1980 as an independent state entity tasked with the mission to manage and invest the assets of the Alaska Permanent Fund and other funds designated by law. The Alaska Permanent Fund is a globally recognized sovereign wealth fund, established in 1976 by Alaskans as a public trust to preserve and convert the State’s non-renewable oil and mineral wealth into a renewable financial resource for generations of Alaskans. The value of the Alaska Permanent Fund as of June 30, 2019 is $65.4 billion.
Barings is a $325+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific. Learn more at www.Barings.com.
*As of June 30, 2019
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