Jacksonville Police & Fire commits $100 million to private credit fund
Jacksonville (Fla.) Police & Fire Pension Fund committed $100 million to Ares Pathfinder Core Fund.
The $2.3 billion pension fund s board approved the commitment to the evergreen private credit fund managed by
Ares Management at its May 21 meeting, said a summary of the meeting posted on the pension fund s website.
It is the pension fund s first private credit commitment since creating a new target of 8% to the asset class in November following an asset allocation study conducted by investment consultant RVK.
The pension fund also created a target of 5% to non-core real estate at the time and eliminated targets of 10% and 3%, respectively, to private equity and master limited partnerships.