Institution: Jacksonville Police and Fire Pension Fund
Headquarters: Jacksonville, US
AUM: $2.65 billion
Allocation to alternatives: 9.49%
The pension added a 5 percent target allocation to non-core real estate late last year, as previously reported by PERE. According to September meeting minutes, its investment consultant, RVK, recommended an annual commitment between $40 to $45 million to non-core real estate earlier this year.
As illustrated below, the pension currently allocates 9.49 percent of its full investment portfolio to real estate. This is the first commitment made by the pension to non-core real estate.
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