The Alaska Permanent Fund Corporation (APFC) seeks a Portfolio Manager to join its Real Estate team. The position has meaningful responsibility for assigned investments or portions of the portfolio, including identifying opportunities, conducting due diligence, monitoring performance, and recommending changes or dispositions.
As part of a small, collaborative team that values integrity, stewardship, and passion, the Portfolio Manager works closely with senior investment staff, investment partners, consultants, and advisors to implement investment strategies and support APFC's long-term investment objectives
Key Attributes
- Strong commitment to APFC's mission, vision, and values of integrity, stewardship, and passion
- Unquestionable personal and professional integrity
- Intellectual curiosity, strong analytical abilities, excellent judgment, and attention to detail
- Self-motivation and a strong work ethic
- Strong written, verbal, and interpersonal communication skills
- Ability to effectively manage multiple priorities in a dynamic investment environment
- Ability to collaborate effectively within a small and highly professional team environment
Principal Responsibilities
- Evaluates prospective real estate investments across various investment structures, including equity investments, joint ventures, separately managed accounts, private funds, and debt investments
- Develops and maintains financial models to evaluate projected investment performance, risks, and return scenarios
- Conducts market, industry, economic, and competitive analyses and evaluates investment structures, financing arrangements, capital plans, operating assumptions, and exit strategies
- Prepares investment recommendations, presentations, and supporting materials for management, the Investment Committee, and the Board of Trustees
- Participates in and coordinates investment due diligence, including review of property-level financial information, market studies, legal documentation, partnership agreements, and investment reporting
- Coordinates with legal counsel, consultants, lenders, and other advisors; assists with negotiation of investment terms, governance provisions, and transaction structures; and supports acquisition, disposition, financing, and restructuring activities
- Monitors existing investments and evaluates performance relative to underwriting assumptions, benchmarks, and portfolio objectives
- Reviews reports from investment managers, operating partners, and third-party advisors and analyzes property operations, leasing, development, capital projects, financing activities, and market conditions
- Identifies risks, opportunities, and value-enhancement initiatives and maintains productive relationships with investment partners, consultants, and service providers
- Maintains portfolio-level investment models and performance tracking systems and prepares quarterly, annual, and ad hoc portfolio reports
- Supports strategic planning, portfolio reviews, and asset allocation analyses and prepares written analyses and recommendations regarding portfolio performance, investment opportunities, and market conditions
- Maintains organized records and documentation supporting investment decisions and portfolio oversight activities
- Leverages third-party data, research, and analytics platforms, such as market, benchmarking, valuation, and economic data providers, to inform investment analysis, underwriting, and portfolio monitoring
- Collaborates with senior investment staff, analysts, consultants, and external advisors; assists in training and mentoring analysts and junior investment professionals; and supports process improvements and a collaborative, high-performing team culture
Required Qualifications
- Bachelor's degree in finance, real estate, economics, business, accounting, or a related field.
- Seven years of progressively responsible investment experience, including at least three years performing portfolio management responsibilities involving institutional or commercial real estate investments.
- Demonstrated experience evaluating, underwriting, and monitoring real estate investments and developing investment recommendations.
- Experience in portfolio or asset management, investment due diligence, financial analysis, and investment manager or partner oversight.
- Experience evaluating and executing real estate acquisitions, dispositions, and other investment transactions.
- Experience with separate accounts, commingled funds, joint ventures, co-investments, or real estate debt investments.
- Demonstrated ability to independently evaluate complex investments and exercise sound investment judgment.
- Experience presenting investment recommendations to investment committees, senior leadership, or other institutional decision-makers.
An equivalent combination of education and directly related experience may be considered.
Preferred Qualifications
- Experience managing a diversified institutional real estate portfolio across multiple investment structures and property types.
- Experience selecting, evaluating, and overseeing external investment managers and operating partners.
- Relevant advanced degree or professional investment designation/certification, such as CFA, CAIA, or Argus.
Other Duties
Please note this job announcement is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Application Requirement:
To be considered for this position, applicants must submit a complete application. A complete application includes:
- A resume or curriculum vitae (CV)
- A cover letter that clearly outlines how the applicant's experience aligns with the qualifications and responsibilities of the position
- Complete and thorough responses to all application questions
Applications that are incomplete or do not meet these criteria may be disqualified from further consideration.
Compensation & Benefits Information
The base salary range for this position is $225,000 - $258,000 annually, commensurate with experience and qualifications. This role is also eligible for Incentive Compensation in accordance with APFC's Incentive Compensation Plan, with a maximum annual bonus of 50% of base salary, tied to total fund performance.
Health
- Medical / Vision / Dental Insurance
- Single or Family Coverage
- Different Cost and Coverage Options
- Employee-funded Health Flexible Spending Account (pre-taxed)
- Voluntary Supplemental Benefits
- Life Insurance
- Disability Insurance
- Accidental Death & Dismemberment
Retirement
- Public Employees' Retirement Program (PERS)
- Matching employer contribution
- Employer contributions vested 100% after 5 years
- Alaska Supplemental Annuity Plan In lieu of Social Security
To see more Benefits (click here for more information)
Personal Leave
- Personal leave program starts at 21 days per year. Leave is accrued each pay period at a rate of 6:03 hours per pay period with increases to accrual rates at 2, 5, 10, & 15yrs employment milestones.
- 12 Paid Holidays per year
Other
- Flexible work hours based on positional needs
- Generous professional development opportunities
- Free parking
- Relocation assistance may be provided
- Modern Headquarters located in beautiful location
- This position is based in APFC's Juneau Office. An alternative work location may be considered based on organizations needs and recruitment circumstances.
