Portfolio Manager - Private Income

Job Description

Salary: $200,000 - $225,000 Annually

Portfolio Manager Private Credit

The Alaska Permanent Fund Corporation (APFC) manages the $80 billion Alaska Permanent Fund, a sovereign wealth fund established in 1976 to provide for all current and future generations of Alaskans. We are growing and are looking to hire an experienced Portfolio Manager for our Private Income investments team.

The Portfolio Manager reports to the Head of Private Incomeand shares responsibility for identifying, analyzing, selecting, monitoring, and managing private credit and income opportunities fund investments, co-investments, and direct investments into operating companies. As a key member of the investments team, the Portfolio Manager will contribute knowledge and perspectives and will assist with investment decisions across asset classes. By combining best-in-class manager and investment selection with the ability to strategically deploy capital directly into attractive opportunities, the Private Income team seeks to deliver accretive, risk-adjusted returns over the long term.

Key Attributes

The successful candidate will have the following qualities:

Strong commitment to APFCs vision and its shared values of integrity, stewardship and passion

Self-motivation and very strong sense of personal and professional integrity

Intellectual curiosity and excellent attention to detail

A belief that great outcomes come from great teams; a demonstrated ability to collaborate well in a small team environment

Unquestionable personal and professional integrity

Key Responsibilities

Source, screen and evaluate prospective private credit and related fund, co-investment and direct investment opportunities

Perform detailed due diligence on opportunities in a range of areas including manager, team and strategy assessments; valuation and sensitivity analysis; market analysis; and other areas to identify and assess investment risks and merits

Synthesize results of screening and due diligence into investment memos and present findings to senior team members and the Investment Committee

Prepare and assist with research on investment themes and special projects

Prepare materials for, and participate in, internal meetings, due diligence meetings, and board meetings

Monitor and manage current investments and pipeline

Assist in the development of board meeting material

Develop and maintain relationships with industry participants including other limited partners, general partners, and industry thought leaders through participation in annual meetings, advisory committee meetings, industry conferences, and other ad hoc meetings and events

Required Qualifications and Experience

Bachelor's degree

7-12 years of directly relevant investment industry experience with a preferred background in private credit investing; will consider other relevant roles

Robust knowledge of the private investment industry, market participants, investment structure, and current trends

Experience sourcing, screening and evaluating a broad range of investment opportunities in private markets

Excellent written and verbal communication skills

Ability to manage multiple tasks simultaneously and meet tight deadlines

Strong analytical and critical thinking skills

Ability to collaborate, problem solve, and bring parties together when needed but also work independently

Preferred Qualifications

A post-graduate degree or advanced professional designation (e.g. CFA or CAIA)

About APFC's Private Income Portfolio

The APFC Private Income Portfolio consists of Infrastructure, Private Credit, and Income Opportunities sub-portfolios. This position is focused on the Private Credit and Income Opportunities sub-portfolios.

Infrastructure investments involve the purchase of critical assets with high barriers to entry and, due to the essential services nature of the assets, often result in low elasticity of demand. Infrastructure investments may include energy infrastructure, transportation, water/waste infrastructure, digital infrastructure, social infrastructure, or any other asset that possesses similar characteristics.

Private Credit and Income Opportunities investments involve the ownership of higher-yielding, illiquid investments covering a range of risk/return profiles. The Private Credit portion of this portfolio targets externally managed limited liability funds, co-investments, and direct investments into operating companies that target one or more of the following strategies: direct lending, subordinated and mezzanine lending, distressed debt, and opportunistic credit-oriented funds, with the flexibility to pursue illiquid and liquid strategies.

The Income Opportunities portion of this portfolio targets private markets investments with an objective of income generation and downside protection, but which do not fit neatly into other portfolios. This currently includes, but is not limited to, investments in timberlands, agriculture, life settlements, leasing and royalty strategies, and structured credit.

The total Private Income portfolio has a 10% target allocation and is valued at approximately $7.5 billion (9% of the total fund). The Private Income program deploys approximately $1.3 billion annually across infrastructure, private credit, and income opportunities investments.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may be added, removed, or changed at any time with or without notice.

AAP / EEO Statement

APFC provides equal employment and advancement opportunities to all. APFC follows all applicable Federal and State laws and does not discriminate in employment opportunities or practices on the basis of race, color, religion, gender, gender orientation, national origin, age, disability, or any other class protected by law.

Disclaimer

Please be alert to fraudulent Alaska Permanent Fund Corporation (APFC) job postings, all APFC jobs for which we are externally recruiting are posted on our careers site at APFC.org/careers.APFC will never ask candidates to interview via chat or text, nor ask for an upfront payment or deposit. If you believe you have been exposed to a scam, please contact us share any relevant details you may have.

Application Requirement

To be considered for this position, applicants must submit a complete application. A complete application includes:

A resume or curriculum vitae (CV)

A cover letter that clearly outlines how the applicants experience aligns

with the qualifications and responsibilities of the position

Complete and thorough responses to all application questions

Applications that are incomplete or do not meet these criteria may be disqualified from further consideration.