A multimillion-dollar share of the Alaska grocery store chain Three Bears is one of the latest additions to the Alaska Permanent Fund Corp.’s $200 million in-state investment program. Via AlaskaBeacon
and its managers. The corporation, which manages the fund, had mostly avoided investments within Alaska for most of its life.
The Alaska Future Fund is the name for half of the APFC’s in-state investment project. The other half, directed by McKinley Capital Management, is called the Na’ Nuk Fund. Asked this week about that assessment, Deven Mitchell, executive director and CEO of the Permanent Fund Corp. said he agrees.While it’s impossible to judge absolute returns so far, the in-state investments are performing poorly when compared to out-of-state private equity investments made by the Permanent Fund Corp. during the same period.
“I’m worried about this program, because we’re trying to be the best money managers we can,” said board member Steve Rieger.
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