Florida’s actuarial health frees assets for alternatives
Fri Jul 2, 2010
Florida State Board of Administration approves the largest US public pension allocation to hedge funds in dollar terms
Ponce de Leon was seeking the fountain of youth
in exploring Florida's coastline, but now hedge fund explorers
venturing into the sunshine state are likely to find a well of
retirement dollars poised to make their way into alternative
investments in the coming year.
Bringing youthful optimism in restructuring its alternative
asset mix, the nearly $140 billion Florida State Board of
Administration - which includes $113 billion in pension assets
and a series of state funds-has undergone a transformation over
the last year. This month, it finally gained approval to expand
dramatically into direct hedge fund investments. This new
allocation will be the cornerstone of an 11% strategic
investment allocation across a variety of alternative
The new policy may take some time to implement though as
officials will need legislative authority to increase the
allocations to alternatives that will account for as much as $8
billion in hedge funds. In...
ISSN: 2151-1845 / CDC10004H
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