City of Jacksonville Police and Fire Pension Fund

City of Jacksonville Police and Fire Pension Fund

The City of Jacksonville Police and Fire Pension Fund was established in 1937 to provide defined benefits for full-time sworn officers and firefighters in Jacksonville, Florida. Administered by Executive Director Timothy H. Johnson under the oversight of a five-member board of trustees, the fund operates with an unusually direct-touch approach to its private markets book for a municipal system — participating in co-investments, mezzanine debt, buyout, secondaries, and special situations rather than relying exclusively on fund-of-funds intermediaries. Private markets allocations show a bias toward real estate and credit-oriented structures. The fund is a limited partner in Harrison Street Real Estate Partners Fund IX, a vehicle targeting mixed-use and specialty real estate across the United States. It also owns its headquarters and an adjacent parking garage at 1 West Adams Street, a direct commercial property holding. Beyond physical assets, the fund runs a securities lending program that generates incremental income on its public portfolio — an operational detail that signals an internal willingness to sweat the basis points. Geographic exposure skews domestic, consistent with the local-government mandate. The pension fund participates in the Florida Public Pension Trustees Association, the standard continuing-education and advocacy network for Florida public-plan fiduciaries. Deputy Director Steve Lundy serves as the fund's designated ethics officer on Jacksonville's Ethics Coordination Council, providing direct accountability to municipal governance standards. The fund has not publicly disclosed a total professional headcount or firmwide deployment pace across recent fiscal years. The structural differentiator is achievable scale: a mid-sized municipal plan that can act nimbly inside private markets because its total pool is small enough to move on secondaries and direct co-investments without the pacing constraints of a $20 billion-plus state system — yet large enough to attract GPs seeking local-government limited partners with durable, non-cyclical contribution inflows from a mandatory-benefit payroll base.