# Palm Beach Gardens Firefighters Pension Fund

Palm Beach Gardens Firefighters Pension Fund is a Pension Fund based in Palm Beach Gardens, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Palm Beach Gardens, United States
- **Region:** North America
- **Address:** Palm Beach Gardens, FL, United States
- **Founded:** 1959
- **Assets under management:** Less than $500 million (Altss estimate)
- **Website:** pbgfl.com
- **LinkedIn:** linkedin.com/company/palm-beach-gardens-firefighters-retirement-insurance-fund

## Regulatory record

- **Reports private funds:** No

## About

The plan operates under the sponsorship of the City of Palm Beach Gardens, which acts as the plan sponsor responsible for funding and oversight. Board governance is led by trustees including Lisa Lalonde, Rick Rhodes, and Michael Zingaro, who oversee asset allocation and manager selection for the fund's beneficiaries — active and retired firefighters employed by the city. Investment strategy reflects a traditional public pension framework, with assets distributed across pooled and commingled equity funds, mutual fund equity, and fixed-income vehicles. The fund also holds direct real estate exposure through the American Core Realty Fund and the Intercontinental U.S. Real Estate Investment Fund, both targeting mixed-use properties. There is no publicly disclosed allocation to venture capital, private equity, or direct co-investment structures, distinguishing it from larger, more opportunistic Florida state-level funds. The board participates in the Florida Public Pension Trustees Association, the state-wide educational body that provides fiduciary training and governance best practices for municipal pension trustees. Structurally, the fund is notable for what it lacks rather than what it adds: no internal investment staff, no co-investment program, and no separate foundation vehicle. This lean governance model — a volunteer board overseeing external managers and funds — is the standard architecture for Florida's municipal firefighter pensions, creating a distinct operational profile from the state's large, staffed public funds like the Florida State Board of Administration. For GPs and placement agents, the path in runs through the board's consultant relationship, though no current consultant has been publicly identified.

## Sectors

- Real Estate
- Private Credit

## People

- Jonathan Currier — Board Member
- Lisa Lalonde — Board Member
- Rick Rhodes — Board Member
- Michael Zingaro — Board Member

## Questions

### What does the fund invest in?

The portfolio spans pooled and commingled equity funds, mutual fund equity, and fixed-income pools. Real estate exposure is concentrated in two core, mixed-use vehicles: the American Core Realty Fund and the Intercontinental U.S. Real Estate Investment Fund. There is no disclosed allocation to private equity, venture capital, or direct co-investments.

### What is the fund's relationship with the Florida Public Pension Trustees Association?

The fund is an active member of the Florida Public Pension Trustees Association, a statewide organization that delivers fiduciary education, legislative updates, and governance training to municipal pension boards. Membership is common among smaller Florida plans seeking to meet trustee education requirements under state law.

## Related profiles

- [Palladio Partners](https://altss.com/profile/palladio-partners)
- [Palm Beach Gardens Police Pension Fund](https://altss.com/profile/palm-beach-gardens-police-pension-fund)

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/palm-beach-gardens-firefighters-pension-fund

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