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SBA Florida commits $100m to Principal Digital Real Estate Fund
Investors - MAY 5, 2021

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SBA Florida commits $100m to Principal Digital Real Estate Fund

by Kali Persall

The State Board of Administration (SBA) of Florida has announced that the Florida Retirement System (FRS) has committed $100 million to Principal Digital Real Estate Fund, a data center fund managed by Principal Global Investors.

Principal Digital Real Estate Fund follows a core investment strategy and is targeting a fundraise of $500 million.

SBA Florida said Principal is not a new manager for the administration.

The fund has garnered the support of other U.S. pension investors, including the Employees Retirement System (ERS) of Texas and the Tennessee Consolidated Retirement System.

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