Houston Firefighters' Relief and Retirement Fund held an investment portfolio valued at $5.09 billion as of June 30, 2023, invested in publicly traded equities, fixed-income securities, private equity, real estate, hedge fund, cash and infrastructure. Returns over 1, 3, 5, 7 and 10 years were 4.2%, 11.7%, 8.5%, 9.0% and 8.0%, against benchmark returns of 6.3%, 7.7%, 6.8%, 7.2% and 6.8% respectively. On June 30, 2023, private equity was valued at $2.11 billion, or 41.5% of the total portfolio, up from $1.99 billion on December 31, 2022. The private equity allocation includes $431.75 million placed in private debt strategies. As of June 30, 2023, private equity returns over 1, 3, 5, 7 and 10 years were -5.8%, 25%, 17.4%, 15.9% and 15.3%, against benchmark returns of -0.3%, 24.7%, 16.2%, 16.6% and 14.9%. Its private equity investments cover buyouts, direct lending, distressed debt, mezzanine, private equity growth expansion, secondaries and venture capital fund strategies, diversified geographically across the globe. The executive management team governs the fund's investments, and Mr. Ajit Singh is Chief Investment Officer.
| Investor | Type | Based in | Focus | AUM | Contacts |
|---|---|---|---|---|---|
| Morgan Stanley Investment Management | Fund of Funds | New York | Debt & credit · Core · Co-investment | $1.6T | 1 |
| Blackstone Group - Fund of Funds and Secondary | Fund of Funds | New York | Multifamily · Industrial · Core | $1.1T | 16 |
| New York Life Investment Management | Asset Manager | New York | Multifamily · Industrial · Co-investment | $740B | 5 |
| Brookfield Asset Management | Asset Manager | Toronto, Canada | Multifamily · Industrial · Opportunistic · Joint venture | $690B | 12 |
| KKR | Asset Manager | New York | Multifamily · Industrial · Core · Co-investment | $553B | 11 |
| Ares Management | Asset Manager | Los Angeles | Multifamily · Industrial · Core | $546B | 16 |
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