Miami Beach Fire & Police Considers $7M Allocation in RE Manager Search

The Miami Beach Fire & Police Pension Fund is mulling a $7M allocation to be awarded to a manager in its real estate manager search, in fulfilment of the pension’s long-term 2% target in the asset class.

Recently published minutes from its November 21, 2024, board meeting disclosed that the pension considered five candidates for the allocation: PCCP Equity X, Sabal Strategic Opportunities Fund II, Torchlight Debt Opportunity Fund VIII, Virtus Real Estate Capital IV, and Affiliated Housing Impact Fund II. The pension expressed particular interest in Sabal Investment Holdings, and is set to meet with the manager in January “before making a formal commitment.”

The Florida-based pension said it made $11M in total commitments to non-core real estate in 2023, with the upcoming $7M commitment recommended to maintain its seven-year benchmark. Per latest Dakota data, Miami Beach Fire & Police manages an overall portfolio of approximately $1.1B in assets.

Written By: Dakota

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Miami Beach Fire & Police Considers $7M Allocation in RE Manager Search

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