Real Estate Portfolio Manager

Alaska Permanent Fund Corporation•Juneau, AK

About The Position

The Alaska Permanent Fund Corporation (APFC) is seeking a Portfolio Manager to join its Real Estate team. The role has meaningful responsibility for assigned investments or portions of the portfolio, from identifying and evaluating opportunities through monitoring performance and recommending changes or dispositions. The Portfolio Manager works with senior investment staff, investment partners, consultants, and advisors to implement investment strategies and support APFC’s long-term investment objectives. The position evaluates real estate investments across equity, joint venture, separately managed account, private fund, and debt structures; develops and maintains investment and portfolio models; conducts due diligence and market analysis; and prepares recommendations and reports for management, the Investment Committee, and the Board of Trustees. It also monitors existing investments, coordinates with external partners and advisors, supports transaction activities, and contributes to strategic planning and portfolio reviews. The role includes assisting with the training and mentoring of analysts and junior investment professionals. The position is based in APFC’s Juneau Office. An alternative work location may be considered based on organizational needs and recruitment circumstances.

Requirements

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.
Ability to manage multiple priorities in a dynamic investment environment and collaborate effectively within a small, highly professional team.
Strong written, verbal, and interpersonal communication skills; analytical ability, judgment, attention to detail, self-motivation, and a strong work ethic.
Commitment to APFC’s mission, vision, and values of integrity, stewardship, and passion, with unquestionable personal and professional integrity.
An equivalent combination of education and directly related experience may be considered.

Nice To Haves

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 or certification, such as CFA, CAIA, or Argus.

Responsibilities

Evaluate prospective real estate investments across equity investments, joint ventures, separately managed accounts, private funds, and debt investments.
Develop and maintain financial models to evaluate projected investment performance, risks, and return scenarios.
Conduct market, industry, economic, and competitive analyses, including evaluation of investment structures, financing arrangements, capital plans, operating assumptions, and exit strategies.
Prepare investment recommendations, presentations, and supporting materials for management, the Investment Committee, and the Board of Trustees.
Participate in and coordinate investment due diligence, including review of property-level financial information, market studies, legal documentation, partnership agreements, and investment reporting.
Coordinate with legal counsel, consultants, lenders, and other advisors; assist with negotiating investment terms, governance provisions, and transaction structures; and support acquisition, disposition, financing, and restructuring activities.
Monitor existing investments and evaluate performance relative to underwriting assumptions, benchmarks, and portfolio objectives.
Review reports from investment managers, operating partners, and third-party advisors; analyze property operations, leasing, development, capital projects, financing activities, and market conditions.
Identify risks, opportunities, and value-enhancement initiatives and maintain productive relationships with investment partners, consultants, and service providers.
Maintain portfolio-level investment models and performance tracking systems and prepare quarterly, annual, and ad hoc portfolio reports.
Support strategic planning, portfolio reviews, and asset allocation analyses; prepare written analyses and recommendations regarding portfolio performance, investment opportunities, and market conditions.
Maintain organized records and documentation supporting investment decisions and portfolio oversight activities.
Use third-party data, research, and analytics platforms, including market, benchmarking, valuation, and economic data providers, to inform investment analysis, underwriting, and portfolio monitoring.
Collaborate with senior investment staff, analysts, consultants, and external advisors; assist in training and mentoring analysts and junior investment professionals; and support process improvements and a collaborative, high-performing team culture.

Benefits

Incentive compensation under APFC’s Incentive Compensation Plan, with a maximum annual bonus of 50% of base salary tied to total fund performance.
Medical, vision, and dental insurance with single or family coverage and different cost and coverage options.
Employee-funded Health Flexible Spending Account.
Voluntary supplemental benefits, including life insurance, disability insurance, and Accidental Death & Dismemberment coverage.
Public Employees’ Retirement Program (PERS) with matching employer contributions; employer contributions are fully vested after five years.
Alaska Supplemental Annuity Plan in lieu of Social Security.
Personal leave starting at 21 days per year, accrued each pay period, with accrual-rate increases at employment milestones.
12 paid holidays per year.
Flexible work hours based on positional needs.
Professional development opportunities.
Free parking.
Relocation assistance may be provided.