Town of Palm Beach

Town of Palm Beach

The Town of Palm Beach Health Insurance Trust formed in 2007 as a single-employer, defined-benefit post-employment healthcare plan for the town's retired workers. Mayor Danielle Moore and Town Manager Kirk Blouin provide administrative oversight, with an Investment Advisory Committee guiding portfolio construction. The trust remains a closed, municipal vehicle — no external LPs, no marketing deck, no growth mandate. The trust carries roughly $43M in estimated assets (per Altss estimate), invested across a hybrid structure spanning buyout funds, venture capital, distressed debt, mezzanine, secondaries, and fund-of-funds commitments. The portfolio bears the hallmarks of a small municipal allocator using pooled vehicles to access asset classes a direct-only plan could not reach at this scale. Geographic concentration skews heavily toward US-based managers, consistent with the plan's South Florida domicile and municipal governance constraints. Strategy tags confirm stage-agnostic deployment from seed to late-stage venture alongside turnaround and distressed credit sleeves. The trust operates from Palm Beach Town Hall on South County Road. Beyond financial assets, the town holds physical property including Pan's Garden on Hibiscus Avenue and the Addison Mizner Memorial Fountain in Town Square. The trust participates in professional networks — the Palm Beach County League of Cities and Florida League of Cities — which provide peer benchmarking for municipal finance officers but no co-investment pooling. As of mid-2026, no recent operational event has been made public; the trust's last documented structural change was its 2007 founding. The trust's binding constraint is its origin. A post-employment healthcare trust for a single municipality of 9,000 residents cannot take the liquidity, concentration, or duration risk of a state-level pension.