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Fort Lauderdale Police & Fire Retirement System
The Fort Lauderdale Police & Fire Retirement System is a public defined-benefit pension fund established by the City of Fort Lauderdale, Florida, to...
Fort Lauderdale Police & Fire Retirement System
The Fort Lauderdale Police & Fire Retirement System is a public defined-benefit pension fund established by the City of Fort Lauderdale, Florida, to provide retirement benefits for police officers and firefighters. It is governed by a Board of Trustees comprising active and retired members, with Ken Rudominer as Chairman and Lynn Wenguer as Executive Director overseeing day-to-day operations. The fund pursues a diversified allocation strategy that includes multiple real estate vehicles across property types and geographies. Confirmed positions include the Boyd Watterson GSA Fund (commercial), Invesco Core Real Estate-USA (commercial), TA Realty Value-Add Fund (mixed-use), AEW Core Property Trust (commercial), and AgAmerica Income Fund (land). The fund also holds interests in the Bloomfield Capital Income Fund V and the Affiliated Housing Impact Fund II, which targets mixed-use developments in South Florida. Alternative assets extend to infrastructure and private credit, with an emphasis on U.S. markets. The fund maintains professional affiliations with the Florida Public Pension Trustees Association (FPPTA), the National Conference on Public Employee Retirement Systems (NCPERS), and the Public Pension Coordinating Council (PPCC), from which it has received the Public Pension Standards Award. Board leadership rotates among trustees, with Derek Joseph serving as Vice Chairman and Scott Bayne as Secretary. The fund's structure as a single-employer municipal pension system means its investment decisions are tied directly to City of Fort Lauderdale fiscal policy and collective bargaining agreements. Its real estate-heavy allocation across core, value-add and fund-of-fund structures is notable among smaller public pensions, reflecting a deliberate shift toward income-generating alternatives.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Fort Lauderdale
Corporate office
Fort Lauderdale, FL, United States
Principals
Lynn Wenguer
Executive Director
Ken Rudominer
Chairman of the Board of Trustees
Derek Joseph
Vice Chairman of the Board of Trustees
Scott Bayne
Secretary of the Board of Trustees
Sector focus
Frequently asked questions
Who runs investment decisions at the Fort Lauderdale Police & Fire Retirement System?
Lynn Wenguer serves as Executive Director and manages day-to-day operations, while the Board of Trustees — chaired by Ken Rudominer — sets investment policy and approves allocations. Trustees include active and retired police and fire personnel.
What types of real estate investments does the fund hold?
The fund holds positions in multiple real estate vehicles, including core funds like AEW Core Property Trust and Invesco Core Real Estate-USA, value-add strategies via TA Realty Value-Add Fund, and niche vehicles such as AgAmerica Income Fund (agricultural land) and Bloomfield Capital Income Fund V. It also participates in the Affiliated Housing Impact Fund II, which focuses on mixed-use development in South Florida.
How does the fund's governance structure work?
The fund is governed by a Board of Trustees composed of active and retired members from the Fort Lauderdale police and fire departments. The board includes a Chairman (Ken Rudominer), Vice Chairman (Derek Joseph), and Secretary (Scott Bayne). Investment decisions are subject to fiduciary standards for public pension plans under Florida state law.
What professional associations is the fund affiliated with?
The fund is an active member of the Florida Public Pension Trustees Association (FPPTA) and the National Conference on Public Employee Retirement Systems (NCPERS). It has also received the Public Pension Standards Award from the Public Pension Coordinating Council (PPCC).
Does the fund invest only in real estate?
No. While real estate is a significant allocation, the fund also invests in infrastructure and private credit. Its holdings span core, value-add, and fund-of-fund structures across multiple GPs, with a focus on income-generating alternatives to public markets.
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