One of the latest additions to the Alaska Permanent Fund Corp.’s in-state investment program is a multimillion-dollar stake in the Alaska grocery store chain Three Bears. (via AlaskaBeacon)
The offices of the Alaska Permanent Fund Corp. are seen Monday, June 6, 2022 in Juneau, Alaska.
Last year, Barings co-invested Permanent Fund money into Three Bears with Westward Partners, a Seattle-based private equity firm., but the Permanent Fund’s involvement was not. James Cartales, managing director of Cascadia Capital in Seattle, helped coordinate the investment. “This allows us the financial backing to open more stores quicker and be able to spread out faster,” marketing director Jim Kolb told KUAC-FM in January.
APFC Chief Investment Officer Marcus Frampton, said last week that if he had another dollar to spend on a private equity investment, “I probably wouldn’t pick for the next incremental dollar.” Jason Brune, a board member and commissioner of the Alaska Department of Environmental Conservation, said he’s also “nervous” about the potential “politicization of our investments.”
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