A cartoon sketch is seen on a cubicle in the offices of the Alaska Permanent Fund Corp. during an open house on Friday, Feb. 16, 2024.
Rep. Ben Carpenter, R-Nikiski and chair of the committee, asked pointedly whether the corporation’s investment strategy is designed to benefit someone in particular. Those investments are riskier, but historically have generated higher returns than publicly traded investments. Permanent Fund CEO Deven Mitchell said after Monday’s hearing that if someone thinks the fund is being invested for something other than the benefit of all Alaskans, “obviously, that’s not going to be our perspective.”
He said the APFC’s decision to spend as much as $200 million on private equity investments within the state is also an area of concern.“If they were just isolated events, it would paint one picture, but because there’s a series of things, it kind of paints a different picture,” Carpenter said.