Alaska lawmakers question $50M private equity investment from state savings fund

Alaska lawmakers question $50M private equity investment from state savings fund

Legislative leaders express concern after $50M from Alaska’s Constitutional Budget Reserve was invested in private equity without prior notice or approval.

Reporting From Alaska- $50 million state investment from CBR in illiquid long-term asset sets off alarm bells

Legislative leaders have confirmed some key details of reporting about a $50 million long-term investment by the Department of Revenue with money from the Constitutional Budget Reserve that should be kept in short-term investments because it could soon be needed to pay for state operations.The $50 million went to DigitalBridge, a company that was invited to Gov. Mike Dunleavy’s latest so-called “sustainable energy conference” last spring and gav…