The Florida State Board of Administration (FSBA) has made two new investments totaling $115 million to one fund and one joint venture, according to a report detailing the pension fund’s second quarter investment activity.
FSBA committed $90 million to the Rockpoint Real Estate Fund VI, managed by Rockpoint Group. The value-add, opportunistic fund is seeking to raise $3.25 billion in capital commitments to invest in CBD office, hotel and multifamily assets.
The pension fund previously committed $100 million to the fund’s predecessor, Rockpoint Real Estate Fund V.
In addition, FSBA also committed $25 million to the Heitman SBAF GP Co-Investment JV, managed by Heitman.
The Townsend Group, the pension fund’s real estate consultant, advised on the commitments.
As of July 30, the FSBA had approximately $208.5 billion in total assets under management.
