Institution: City of Jacksonville Retirement System
Headquarters: Jacksonville, United States
Allocation to alternatives: 17.41%
City of Jacksonville Retirement System has issued an RFP for a private credit consultant, according to a recent procurement report on the pension’s website. This search for a private credit consultant marks the Florida-based system’s first foray into the asset class.
The consultant will be expected to assist with general private credit advisory, assistance with searches and selection of private credit investment managers, as well as delivering analysis and performance review of the private credit portfolio.
Jacksonville Retirement System is seeking to commit approximately $130 million (around 5 to 6 percent of the pension’s total portfolio) to the asset class over the next five vintage years. One to two private credit investments will be made per vintage year.
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