Searches and Hires

Fort Lauderdale taps 2 for private credit, real estate

Fort Lauderdale (Fla.) Police & Fire Retirement System made new commitments totaling $60 million, said Fred Nesbitt, pension fund spokesman.

The $916 million pension fund committed $30 million to a private credit fund managed by Capital Dynamics, and $15 million each to real estate funds managed by Boyd Watterson Asset Management. Mr. Nesbitt could not provide specific fund names. He noted one Boyd Watterson fund invests in federally owned properties and the other in state-owned properties.

The pension fund's asset allocations to fixed income and real estate were 23.1% and 13.7%, respectively, as of March 31. Their respective targets are 30% and 12.5%.

Investment consultant CAPTRUST Financial Advisors assisted.