Jacksonville Police and Fire Commit $20M to Real Estate

The City of Jacksonville Police and Fire Pension Fund (Jacksonville FPP) has approved a commitment of up to $20 million to IPI Partners Fund III. 

IPI Partners Fund III is a non-core real estate strategy managed by IPI. The strategy is focused on data centers with built-to-suit and powered shell development strategies. It has a target fund size of $4 billion.

RVK assisted with the recommendation.

As of December 31, 2023, the $2.5 billion pension fund allocates 10.31% to core real estate and 1.15% to non-core real estate. 

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