The State Board of Administration of Florida (SBA) has committed $150 million to WCP NewCold III, a vehicle of Westport Capital Partners. This commitment was made on Sept. 30, according to SBA’s 2024 Q3 New Managers Report.
WCP NewCold III is a closed-end, opportunistic fund that has $342.4 million in total capital raised. It is focused on warehouse and logistics properties globally and plans to develop a predetermined pipeline of 31 cold storage warehouses.
In addition, SBA has committed a total of $155 billion to three Heitman Capital Management vehicles, as well as $41.1 billion to Invesco Advisors Inc.
The State Board of Administration of Florida is a public pension fund that provides investment and trust services to governmental entities. Of its total $180.5 billion assets, 12 percent is allocated to real estate. As of Dec. 12, 2023, $20.9 billion was invested in real estate.
