LPs

Alaska Permanent expands private equity team with Goldman hire

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Alaska Permanent Fund, private equity, pension fund, Marcus Frampton
Deck hand Mac Cox works to haul a load of fish into the fish hold of the commercial salmon seining vessel F/V Renaissance in the waters off the island of Kodiak, Alaska, on Aug. 3, 2008. REUTERS/Lucas Jackson
  • Brown worked at Goldman since 2013
  • Focused on corporate finance and M&A
  • Sovereign fund hired Yup Kim last year from Deutsche

Alaska Permanent Fund, the $55.4 billion sovereign-wealth fund, hired Goldman Sachs Associate Travis Brown for the private equity team, an internal announcement seen by Buyouts shows.

Brown will work on the PE and special-opportunities team, the announcement says. The hire represents an expansion of the in-house private equity investment team.

At Goldman since 2013, Brown had worked on corporate finance and M&A for large U.S. companies. Prior to Goldman, Brown worked in investment banking at Citigroup and BMO Capital Markets, the announcement and Brown’s LinkedIn profile say.

Last year, Alaska Permanent hired Yup Kim, a former Deutsche Bank vice president, as a senior portfolio manager on the special-opportunities portfolio.

Steve Moseley heads up the PE and special-opportunities portfolios. The fund has been making in-house PE fund commitments and direct investments for about three years. Prior to that, the system worked through separate accounts run by Pathway Capital Management and HarbourVest.

Alaska’s special opportunities group focuses on deals across a wide range of strategies, including direct investments in buyouts, co-investments, ownership stakes in management companies and venture capital.

Alaska Permanent investment staff committed about $3.9 billion to the special-opportunities portfolio for an internal rate of return since inception of about 22.5 percent as of Sept. 30, 2016, according to a separate investment report.

That compares with investment staff’s in-house PE portfolio, with about $1.5 billion of commitments generating a 23.9 percent IRR since inception as of that date, the report said. Including co-investments, the private equity portfolio was producing a 36.8 percent IRR, the report said.

Action Item: Reach Steve Moseley at +1 907-796-1550

Deckhand Mac Cox works to haul a load of fish into the hold of the commercial salmon seining vessel F/V Renaissance in the waters off the island of Kodiak, Alaska, on Aug. 3, 2008. Photo courtesy REUTERS/Lucas Jackson