The Alaska Permanent Fund Corporation (APFC) is looking for a new chief executive following the retirement of Mike Burns on 1 June, according to a statement.
At a special meeting on 10 July, the APFC board of trustees outlined a plan to recruit candidates for the role of CEO and executive director. The process will begin on 17 July with the goal of making an appointment by the next regular session of the Alaska Legislature in January.
APFC's chief financial officer Valerie Mertz has been serving as acting executive director.
APFC's board of trustees approved several private investment commitments in late May including $800 million to private equity, with up to $200 million earmarked for co-investments, and $400 million to infrastructure and up to $200 million in co-investments in the asset class.
It also committed $750 million for a program with New York's Apollo Global Management to invest in private credit, which is similar to an initiative it formed with Washington-based Carlyle Group in July 2013.
The corporation manages the Alaska Permanent Fund, which has $54 billion of assets and began investing in private equity in 2004. Since then it has committed $5.6 billion to general partners' funds which, in turn, distributed $2.1 billion back to the organization through 31 March, according to APFC data.
The APFC's trustee board will next meet on 29 September to discuss allocations and commitments.