Hedge Funds

Alaska pension puts 1% of assets into hedge funds


The Alaska Permanent Fund Corporation is the latest pension to start investing in hedge funds, with the $25 billion pension plan announcing it will put 1% of its assets into an absolute return program, according to a letter on the pension's Web site signed by Carl Brady, the chairman of the fund's board of trustees. The plan is in the process of searching for a consultant to help it choose hedge fund managers and plans to choose a firm by June.

The pilot program will last for 36 months. A spokeswoman for the fund said she was not