Spurred by the need to be sharper and faster investors in the aftermath of the global financial crisis, a growing number of sovereign wealth funds are outsourcing large chunks of their portfolios to external CIOs in the hope of picking up new ideas. Alaska Permanent Fund Corp. (APFC), the state's $51.1 billion oil fund, has led the way, laying down a model borrowed from the corporate pension fund world and adapted for sovereign wealth management.