Florida Growth Fund Investments Add Jobs and Result in Distributions to the Retirement Fund
Report 13-11, December 2013
- As of July 2013, the Florida Growth Fund had invested $317 million in 20 technology and growth companies and 20 private equity funds. Investments were dispersed across 12 counties, with amounts ranging from $5 million in Manatee County to $54.5 million in Palm Beach County. Since its inception, the fund has experienced a net internal rate of return of 17.44% and has distributed $22.8 million to the Florida Retirement System.
- The fund's investments also resulted in economic benefits to the state. Companies that received Florida Growth Fund investments reported creating 5,008 jobs as of June 30, 2013. This included 2,836 jobs created by technology and growth companies and 2,172 jobs created by companies in which private equity funds were invested. The companies reported paying an average annual salary of $64,586, ranging from $19,308 to $97,569. In addition, growth and technology companies and private equity funds have made an estimated $165.4 million in capital expenditures since the fund's inception.
Florida Growth Fund Investments Have Provided More Than $363 Million in FRS Distributions; SBA Added a New Fund Manager and a $125 Million Tranche of Capital to the Program
Report 19-02 January 2019
Florida Growth Fund Investments Have Provided Over $300 Million in Distributions to the FRS; Fund Managers Continue to Seek New Investment Opportunities
Report 18-02 January 2018
Florida Growth Fund Investments Have Provided Over $200 Million in Distributions to the FRS; Fund Managers Continue to Seek New Investment Opportunities
Report 16-08 December 2016
Florida Growth Fund Expands and Diversifies Investments
Report 15-14 December 2015
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