Jacksonville (Fla.) Police & Fire Pension Fund committed $15 million to H.I.G. Realty Partners V.
The $2.7 billion pension fund’s board approved the commitment to the value-added real estate fund managed by H.I.G. Capital at its Oct. 25 meeting, according to a meeting summary on its website.
The pension fund previously committed $25 million to H.I.G. Realty Partners IV in 2021.
As of June 30, the pension fund’s actual allocation to non-core real estate was 1.8%; the target is 5%.
Investment consultant RVK assisted.
