Miami Beach Fire & Police Pension Commit $25M to Private Equity

The Miami Beach Fire & Police Pension Fund has disclosed their first two investments in private equity in recently released minutes from the September 15 board meeting.

$10 million was committed to secondary fund, HarbourVest Dover Street XI and $15 million was committed to the 50 South Private Equity Core Fund X.

The  board previously approved a new 3% target allocation to private equity at the June meeting.

Investment consultant, AndCo, assisted with the private equity search.

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