The $1.46 billion Jacksonville (Fla.) City Retirement System and the $943 million Jacksonville Police and Fire Pension Fund could begin investing in alternatives under a proposal being considered by the Jacksonville City Council.
The bill allows the city’s pension funds to invest up to 10% in alternative investments such as hedge funds and private equity, confirmed Joey Greive, the city’s chief investment officer.
The council on Tuesday deferred action on the bill and will likely revisit the proposal in about a month, according to Mr. Greive.
