Florida State Board of Administration, Tallahassee, is searching for firms to manage a total of $1.8 billion in private equity and debt investments targeting technology, aerospace, renewable energy, medical and life sciences, and other growth businesses in the state, according to an invitation to negotiate from the board.
The board seeks responses from general partnerships, funds of funds and separate account managers, among other types of firms, to actively manage private market vehicles in a legislative-authorized initiative to invest up to 1.5% of the Florida Retirement Systems $125 billion fund in development and growth of these kinds of businesses in the state. Florida SBA oversees the state retirement system. The ITN has no restriction on where the investment firms have to be based.
The ITN is available at http://www.sbafla.com/pdf/vendors/ITN%20FTGII%209-9-09.pdf. Responses are due Oct. 6. The board expects to interview possibly five respondents by the end of October and make selections by Dec. 12.
Consultant Wilshire is assisting in the search.