The Florida Teachers’ Retirement component is part of the broader Florida Retirement System (FRS), which provides retirement benefits to approximately 1.2 million active and retired public employees in Florida, including a significant number of public school teachers and education professionals. Teacher assets represent a substantial portion of the total $205 billion FRS portfolio.
Investment Strategy
Florida teacher pension assets are invested through the FRS portfolio managed by the Florida State Board of Administration (SBA). The diversified portfolio spans public equities, fixed income, private equity, real estate, infrastructure, hedge funds, and private credit.
The SBA’s alternatives program is one of the largest in the U.S. public pension universe. Private equity investments cover buyout, growth equity, venture capital, distressed, and secondaries strategies globally. Real estate includes direct property investments and fund commitments. Infrastructure and hedge fund allocations provide additional diversification.
The SBA has a large, experienced internal investment team that manages the alternatives portfolio with a focus on long-term value creation.
How to Approach
GPs should contact the SBA’s Strategic Investments group in Tallahassee. Since all FRS assets are managed centrally, engagement with the SBA covers teacher pension assets and all other FRS participants. The SBA is an active investor that can make large commitments and also pursues co-investments and secondary transactions.
Frequently Asked Questions
How are Florida teacher pension assets invested?
Florida teacher pension assets are invested through the Florida Retirement System, managed by the Florida State Board of Administration. The SBA manages the combined FRS portfolio of approximately $205 billion, with about 20% allocated to alternatives.
What is the Florida SBA?
The Florida State Board of Administration is the entity responsible for managing FRS investments. The SBA has a large internal investment team and manages one of the most significant alternatives programs among U.S. public pension systems.
How can GPs access Florida teacher pension capital?
GPs should engage with the Florida SBA's Strategic Investments team in Tallahassee. The SBA manages alternatives for all FRS participants, including teachers. The team evaluates managers based on track record, strategy, team quality, and terms.
