As of June 30, 2023, the board’s Florida Growth Fund Program made 145 such investments totaling $998 million; these investments were either direct investments or private equity funds with a Florida presence. This includes new direct investments in 17 companies and 16 private equity funds totaling $75.4 million in Fiscal Year 2022-23.
From fund inception in 2008 through June 30, 2023, the program distributed $965.7 million to the Florida Retirement System Pension Fund. During the review period, the amount distributed was $135 million. Since inception, funds within the Florida Growth Fund Program have generally met or exceeded benchmarks set for each fund.
The Florida Growth Fund Program’s investments have resulted in economic benefits. As of June 30, 2023, investment managers reported that program investments created 6,783 jobs and made $703.4 million in capital expenditures in Florida during the review period.
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