Jacksonville (Fla.) City Retirement System committed up to $15 million to Hammes Partners IV.
The $2.7 billion pension fund's board approved the commitment to the non-core health-care real estate fund at its Nov. 18 meeting, recently released meeting minutes show.
It is the pension fund's second commitment to a non-core real estate fund since approving commitments to that subasset class in 2019.
The pension fund's previous non-core real estate commitment was up to $25 million to H.I.G. Realty Partners IV, managed by H.I.G. Capital, at its Sept. 23 meeting.
As of Dec. 31, the pension fund's actual allocation to real estate was 15.9%; the target is 15%.
Investment consultant RVK assisted.
Tom Stadelmaier, pension administrator, could not be immediately reached for further information.
