# City of Freeport

City of Freeport is a Pension Fund based in Freeport, Bahamas.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Freeport, Bahamas
- **Region:** North America
- **Address:** Freeport, Grand Bahama, Bahamas
- **Founded:** 1827
- **Assets under management:** Undisclosed
- **Website:** cityoffreeport.com
- **LinkedIn:** https://www.linkedin.com/company/city-of-freeport

## Regulatory record

- **Reports private funds:** No

## About

Freeport offers its citizens a very diverse lifestyle, incorporating the best of the old and new, the large and small. | The City of Freeport is a municipality located in Northwestern Illinois. Serving a community of over 23,000 citizens, the City of Freeport offers a variety of governmental services.

## Sectors

- Real Estate
- Infrastructure
- Transportation & Logistics

## People

- Rupert Hayward — Co-Chairman, Grand Bahama Port Authority

## Questions

### What is the City of Freeport's governance structure?

The City of Freeport operates under the Grand Bahama Port Authority, created by the 1955 Hawksbill Creek Agreement. The GBPA is privately held, with the Hayward and St. George families each owning 50 percent. This structure grants them control over land use, port operations, and tax concessions across 230 square miles of Grand Bahama.

### Who runs investment decisions at the City of Freeport?

Investment decisions are effectively governance decisions, not portfolio allocation decisions. The GBPA's co-chairmen, representing the Hayward and St. George families, oversee the port authority's revenue-generating assets. There is no separate public investment committee or CIO function disclosed.

### How is the City of Freeport related to Hutchison Port Holdings?

Hutchison Port Holdings is the GBPA's joint venture partner for the Freeport Harbour and Grand Bahama International Airport. The partnership gives HPH operational control of port logistics while the GBPA retains ownership and regulatory authority over the concession land.

### What is the Hawksbill Creek Agreement?

The Hawksbill Creek Agreement is a 1955 pact between the Bahamian government and Wallace Groves that established Freeport as a free-trade zone. It exempts GBPA licensees from most taxes until 2054 and grants the port authority broad governance powers over the city's development, making it the foundational document for all investment activity in Freeport.

### What happens to the City of Freeport's assets after the Hawksbill Creek Agreement expires?

The current tax concessions run until 2054. What happens to the port authority's land holdings and governance rights after that date is a matter of ongoing negotiation between the Hayward and St. George families and the Bahamian government. No public succession plan for the asset base exists.

## Related profiles

- [City of Fall River (Mass.) Contributory Retirement System](https://altss.com/profile/city-of-fall-river-mass-contributory-retirement-system)
- [City of Fresno Fire & Police Retirement System](https://altss.com/profile/city-of-fresno-fire-police-retirement-system)

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Source record modified: 2026-06-03T20:00:00.000Z

Last verified: not supplied by this public snapshot.

## Sources and provenance

- Organization website as recorded: https://cityoffreeport.com/
Source links do not imply that every field was verified on the page modification date. See [Altss methodology](https://altss.com/methodology).

Canonical page: https://altss.com/profile/city-of-freeport

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology