Fort Lauderdale (Fla.) General Employees’ Retirement System hired three private equity managers and two real estate managers, each to run $10 million, said John L. “Le” Bucci, interim administrator.
In private equity, the $612 million pension fund hired Capital Dynamics, Hamilton Lane and HarbourVest Partners. For real estate, it tapped Deutsche Asset & Wealth Management and Invesco. Mr. Bucci did not have further information.
The pension fund had issued an RFP in August to explore the possibility of hiring its first private equity managers and expanding its lineup of real estate managers.
A funding source has yet to be determined; the pension fund is in the midst of an asset allocation study.
Investment consultant Dahab Associates assisted.