Analyst/Associate - Private Income

Analyst / Associate – Private Income

The Alaska Permanent Fund Corporation ("APFC") manages the $88 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 a talented professional to join our Private Income investment team.

The analyst/associate reports to the Head of Private Income and shares responsibility for identifying, analyzing, selecting, and monitoring infrastructure, private credit, and income opportunities investments across funds, co-investments, and direct investments into operating companies. As a key member of the investment team, the analyst/associate will assist with investment decisions across the portfolio. 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 APFC's vision and its shared values of integrity, stewardship, and passion
• Self-motivation and ability to work independently
• 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 infrastructure, private credit, and related investments across fund, co-investment, and direct investment opportunities
• Maintain the new investment pipeline for the Private Income team
• Perform and assist with 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 APFC board meetings
• Monitor current investments and maintain file management including quarterly reports, LPA amendments, and LPAC approvals
• 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
• 2-4 years of directly relevant investment industry experience with a preferred background in private markets investing; will consider other relevant roles
• Knowledge of the private investment industry, market participants, investment structure, and current trends
• Ability to source, screen, and evaluate 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 portfolio makes investments through externally managed limited liability funds, co-investments, and direct investments into operating companies

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 sub-portfolio targets one or more of the following strategies: direct lending, subordinated and mezzanine lending, distressed debt, and opportunistic credit, with the flexibility to pursue illiquid and liquid strategies.

The Income Opportunities sub-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 $8 billion (9% of the total fund). The Private Income program deploys approximately $1 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.

About the Alaska Permanent Fund Corporation (APFC)

The Alaska Permanent Fund Corporation (APFC) is a state-owned investment organization based in Juneau, Alaska, responsible for managing the assets of the Alaska Permanent Fund—one of the largest sovereign wealth funds in the United States. For nearly 50 years, APFC has transformed Alaska's resource wealth into a renewable financial resource for current and future generations.

In FY25, the Fund reached its highest value ever, exceeding $84 billion, reflecting disciplined stewardship and strong investment performance. APFC's diversified portfolio spans public and private markets, real estate, and alternative investments, delivering long-term returns that support Alaska's economy and public services. The Corporation is guided by a commitment to integrity, stewardship, and passion, and was recently recognized as one of the Best Places to Work by Pensions & Investments.

Compensation and Benefits
The base salary range for this position is $110,000 to $150,000 (DOQ), commensurate with experience and qualifications. This role is also eligible for Incentive Compensation per APFC's Incentive Compensation Plan, with a maximum annual bonus of 15% of base salary, tied to total fund performance.

Benefits Information

Health

• Medical / Vision / Dental Insurance

• Single or Family Coverage

• Different Cost and Coverage Options

• Life Insurance

• Disability Insurance
• Accidental Death & Dismemberment

Retirement

• Public Employes Retirement Program (PERS)

• Matching employer contribution

• Employer contributions vested 100% after 5 years

• Alaska Supplemental Annuity Plan In lieu of Social Security

• Retirement health savings