Fort Lauderdale (Fla.) Police and Firefighters' Retirement System committed $5 million to Affiliated Housing Impact Fund.
The $882 million pension fund's board approved the commitment to the real estate fund managed by Affiliated Development at its July 8 meeting, spokesman Fred Nesbitt said.
Affiliated Housing Impact Fund is an evergreen real estate fund that invests in multifamily affordable housing in South Florida.
As of March 31, the pension fund's actual allocation to real estate was 19.5%.
Investment consultant CAPTRUST Financial Advisors assisted.
