Shands HealthCare Retirement Plan

Shands HealthCare Retirement Plan

The Shands HealthCare Retirement Plan supports employees of Shands Teaching Hospital and Clinics, a statutory affiliate of the University of Florida that forms the core of the UF Health system in Gainesville. Plan assets originate from employee contributions and organizational funding tied to a major academic medical center with more than 2,000 providers. The plan is administered under at least one named vehicle, the Shands HealthCare Pension Plan II, with Ed Daech listed as plan administrator. The plan's asset base is notably concentrated in direct real estate linked to the UF Health footprint. Holdings include the UF Health South Central Medical Office Buildings in Marion County and the Yulee Medical Office Building. The plan also maintains exposure to mixed-use rental properties through the Southeastern Healthcare Foundation and participates in liquid alternatives via instruments like the Florida-based Special Purpose Investment Account and FLCLASS. Beyond real assets, the plan's operational scale remains opaque — total assets are undisclosed and the number of beneficiaries or investment staff is not public. The parent health system ranks among the largest in the Southeast, operating 26 emergency and urgent care locations and 12 hospitals. No recent fund commitments, consultant mandates, or board changes have been publicly reported, leaving the plan's trajectory largely inferred from property records and affiliation filings. Structurally, the plan operates as a self-administered pension vehicle for a captive, non-profit health system — meaning its investment posture is inseparable from the real estate and operational needs of UF Health. Unlike a sovereign fund or an independent pension overseer, Shands HealthCare Retirement Plan does not appear to pursue third-party capital or external manager-of-manager relationships. Its identity is that of an internal utility: funding retirement obligations while holding assets that sustain the larger health system's physical infrastructure.