Alaska Governor Mike Dunleavy’s Administration recently released a set of governance recommendations produced by WilmerHale following the firm’s review of the Alaska Permanent Fund Corporation (APFC). Governor Dunleavy commissioned the firm to review the existing regulations and governance documents and provide recommendations to avoid real or perceived conflicts of interest and improve governance processes.

The recommendations concluded that “the APFC staff and Board of Trustees are dedicated to the Fund’s vision of delivering outstanding returns for Alaskans,” and provided a set of recommendations to improve the APFC’s governance and further the APFC’s values of integrity, stewardship, and passion. Read Governor Dunleavy’s press release.

The APFC is the nation’s largest sovereign wealth fund. Sovereign wealth funds are a priority of the current presidential administration, with President Trump signing an Executive Order calling for the federal government to establish a US sovereign wealth fund to “to promote fiscal sustainability, lessen the burden of taxes on American families and small businesses, establish economic security for future generations, and promote United States economic and strategic leadership internationally.”

The matter was led by Alyssa DaCunha, co-chair of WilmerHale’s Crisis Management and Strategic Response Group and Congressional Investigations Practice, and Benjamin Neaderland, a partner in WilmerHale’s Securities Litigation and Enforcement Practice. WilmerHale is proud to offer clients a deep bench of attorneys with broad experience in conducting wide-ranging and complex internal and government investigations, regulatory reviews and risk assessments.