# Delray Beach Police Officers' Retirement System

Delray Beach Police Officers' Retirement System is a Pension Fund based in Delray Beach, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Delray Beach, United States
- **Region:** North America
- **Address:** Delray Beach, FL, United States
- **Assets under management:** Undisclosed
- **Website:** https://www.delraybeachfl.gov/government/city-departments/finance/pension-administration/police

## Regulatory record

- **Reports private funds:** No

## About

The Delray Beach Police Officers' Retirement System is a US-based pension plan offering retirement, benefits, and insurance to full-time city employees. It focuses on serving public sector employees.

## Sectors

- Secondaries & Special Situations

## People

- Paul Weber — Chair of the Board of Trustees
- Alan Kirschenbaum — Vice-chair of the Board of Trustees
- Lisa Castronovo — Pension Administrator

## Questions

### Who runs investment decisions at Delray Beach Police Officers' Retirement System?

The Board of Trustees, chaired by Paul Weber with Alan Kirschenbaum as vice-chair, oversees investment policy and allocation decisions. Lisa Castronovo serves as pension administrator for the City of Delray Beach, handling day-to-day plan operations. The board draws on trustee education programs through the Florida Public Pension Trustees Association and NCPERS.

### How is the fund's secondary-market strategy structured?

The system acquires existing LP commitments in private funds at negotiated discounts rather than making primary commitments. This secondary-focused approach provides vintage-year diversification, reduces the J-curve effect, and allows the fund to price positions against current net asset values. Public records confirm the strategy but do not disclose specific transaction partners or portfolio holdings.

### Does the plan make primary fund commitments or only secondary purchases?

Available public records tag the strategy as secondaries-focused. The fund also maintains a core fixed income portfolio for liability-matching purposes. Whether occasionally participating in primary commitments alongside the secondary mandate is not disclosed in publicly available materials.

### What investment stages and asset classes does the secondary program target?

The secondary program spans private equity, credit, and other alternative fund interests. Because the fund purchases positions rather than originating them, the underlying exposure reflects the vintage-year and manager mix available on the secondary market at the time of each transaction. Specific transaction details are not publicly reported.

### How is Delray Beach Police Officers' Retirement System governed?

The plan operates under Florida statutes and City of Delray Beach ordinances that govern municipal police and firefighter retirement systems. Governance resides with a Board of Trustees chaired by Paul Weber. The board participates in continuing education through the Florida Public Pension Trustees Association and the National Conference on Public Employee Retirement Systems.

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- [Delta Air Lines](https://altss.com/profile/delta-air-lines)

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Last updated: 2026-06-03T20:00:00.000Z

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