Florida Growth Fund Investments Continue to Add Jobs and Provide Distributions to the FRS
Report 14-11, December 2014
- As of June 30, 2014, the Florida Growth Fund had invested $381.5 million in 27 technology and growth companies and 24 private equity funds. Investments were dispersed across 12 counties, with amounts ranging from $5.8 million in Lee County to $71.4 million in Palm Beach County. Since its inception, the fund has experienced a net internal rate of return of 14.96% and has distributed $49.6 million to the Florida Retirement System.
- The fund's investments also resulted in reported economic benefits to the state. Companies that received Florida Growth Fund investments reported creating 11,125 jobs as of June 30, 2014. This included 2,926 jobs created by technology and growth companies and 8,199 jobs created by companies in which private equity funds were invested. The companies reported paying an average annual salary of $65,080. In addition, 13 growth and technology companies and 13 private equity funds made an estimated $86.3 million in capital expenditures between June 30, 2013, and June 30, 2014, bringing total capital expenditures to $251.7 million 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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