McKinley Management Acquires ASRC Subsidiary
JL Tower in midtown Anchorage, home to McKinley Management.
Fsdbb3 licensed under CC BY-SA 4.0
Arctic Slope Regional Corporation (ASRC) is giving up its Alaska Growth Capital BIDCO subsidiary, which is becoming a fourth line of business for McKinley Management.
Leading Business Lender
“Alaska Growth Capital is a natural fit with McKinley’s investment business,” says McKinley CEO and Chief Investment Officer Rob Gillam. “With this acquisition, we’re excited to add a company with a talented team, a long history of supporting Alaska businesses, and a commitment to supporting community development throughout Alaska. Alaska Growth Capital adds valuable capabilities to our financial platform, which enhances our ability to positively impact Alaska’s economy.”
The company is being renamed McKinley Alaska Growth Capital (AGC).
Alaska Growth Capital BIDCO was founded in 1997 as Alaska’s first Business and Industrial Development Corporation (BIDCO), created to promote economic development and job creation by providing loans, investments, and management assistance to businesses. Today, AGC is the state’s leading provider of business loans utilizing programs offered by the US Small Business Administration (SBA) and the US Department of Agriculture (USDA).
Bristol Bay Native Corporation (BBNC) is partnering with McKinley as a shareholder of AGC, providing leadership on the board of directors and guidance on economic and shareholder initiatives throughout the Bristol Bay region. AGC will continue to be a leading Native Community Development Financial Institution (CDFI), focusing on underserved communities.
Current Issue
January 2026
Former AGC president Logan Birch, currently a McKinley employee, has been put in charge of AGC again. Birch previously served as president of AGC from 2017 to 2019 and on AGC’s board of directors from 2012 to 2020.
“I am so excited for the AGC team to join McKinley as we seek to build on this amazing platform and grow our statewide impact by supporting businesses that are facing difficulties obtaining credit from traditional sources,” Birch says. “We’re excited to grow AGC’s existing SBA, USDA, and CDFI products and to develop new sources of debt capital that will help our state grow.”
ASRC President and CEO Rex A. Rock, Sr., says, “We at ASRC are pleased that the work Alaska Growth Capital does to support underserved communities will continue under McKinley and BBNC’s new ownership. Our shared commitment to strengthening underserved communities was a cornerstone of the acquisition process.”
McKinley Alaska Growth Capital will be co-located in McKinley’s offices at the JL Tower in midtown Anchorage. All AGC employees are being retained. McKinley Alaska Growth Capital will be the fourth line of business at McKinley, along with McKinley Capital Management, McKinley Alaska Private Investment, and McKinley Research Group (formerly McDowell Group).
Private Infrastructure Funding Team Builds a Case for Port MacKenzie Rail Project
Alaska Gasline Development Corporation signs with two Australian firms to make a case for completing Port MacKenzie Rail Extension.
907 Sweet Treats Selling Honey via Vending Machine
The Midtown Mall in Anchorage is home to a new vending machine packed with honey, tea, and candles sold by 907 Sweet Treats.
Donlin Gold Signs Up for Alaska LNG Pipeline Gas
Glenfarne and Donlin Gold signed a letter of intent to supply natural gas to power the mine site, uniting two of Alaska’s long-sought megaprojects.
We’re honored again this year to celebrate our partnership with Junior Achievement of Alaska, a nonprofit that educates local youth about enterprise, business, money, and financial literacy. In the special section, three Junior Achievement of Alaska students weigh in on their experience with the exceptional volunteers and teachers involved with the program.
And in Industry Support, we explore the range of varied services that industry in Alaska requires, from mancamps to spill response to off-grid energy solutions.
Outside the special sections, make sure to check out the 2026 Economic forecast, where Alaska leaders share their insights on what may lie ahead in the coming year. Enjoy!