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Alaska names private markets director

Alaska Permanent Fund’s private markets portfolio manager Marcus Frampton will replace Maria Tsu as direct of the asset class.

Some changes are afoot in the private markets division at the Alaska Permanent Fund. 

Maria Tsu, director of private markets, will leave the fund this fall and will be replaced by Marcus Frampton, a portfolio manager in the private markets division, according to a spokesperson from the fund.

The Alaska Permanent Fund will hire a new senior portfolio manager to replace Frampton to focus on private markets. The new staff member will report directly to Frampton and will be responsible for providing analytical support for existing and prospective investments, according to the job description, that was posted on 9 August.

The Juneau-based sovereign wealth fund was founded in 1976 and manages an investment portfolio of about $46.7 billion. It targets a 6 percent allocation to private equity, according to Private Equity International’s Research and Analytics division.  

In May, the Alaska Permanent Fund began its search for an investment officer to head its $5 billion illiquid co-investment programme and to focus on infrastructure investments, as well as private credit and distressed debt portfolios, PEI previously wrote. The job posting has been removed from the fund’s website, though the position isn’t named on the staff list.  

Alaska also has made moves around separate accounts, or what it calls “special opportunities”. Earlier this year the fund set up strategic relationships with The Carlyle Group to gain access to natural resources and energy managers and with The Blackstone Group to access hedge fund managers, PEI wrote. The fund is seeking providers that have broad platforms like Carlyle and Blackstone, according to executive director, Mike Burns.