Real Estate Portfolio Manager

Job Description

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.

AAP/EEO Statement

APFC provides equal employment and advancement opportunities to all. APFC follows all applicable Federal and State laws and does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, age, disability, or any other class protected by law.

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.

About the Alaska Permanent Fund Corporation (APFC)

The Alaska Permanent Fund Corporation (APFC) is a state-owned investment organization based in Juneau, Alaska, responsible for managing the assets of the Alaska Permanent Fund—one of the largest sovereign wealth funds in the United States. For nearly 50 years, APFC has transformed Alaska’s resource wealth into a renewable financial resource for current and future generations.

In FY26, the Fund reached its highest value ever, exceeding $91.9 billion, reflecting disciplined stewardship and strong investment performance. APFC’s diversified portfolio spans public and private markets, real estate, and alternative investments, delivering long-term returns that support Alaska’s economy and public services. The Corporation is guided by a commitment to integrity, stewardship, and passion, and was recently recognized as one of the Best Places to Work by Pensions & Investments.

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

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