Hedge Fund News From HedgeCo.Net

Alaska Permanent Fund Corp.’s $500 million hedge fund incubator program went live with the hire of its first hedge fund portfolio manager.

Pensions & Investments – The board of the $45.3 billion Juneau-based sovereign wealth fund last year decided to split off $500 million of a $1.1 billion hedge fund mandate managed by Mariner Investment Group into a separate account that would provide new portfolio managers with their first cash. According to April 23, 2012, meeting minutes, between six and 12 hedge fund portfolio managers will become Mariner employees to manage allocations between $50 million and $100 million each.

Alaska spokeswoman Laura Achee confirmed that Mariner is managing the incubator strategy.

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