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Cocoa Beach pension boards agree to 5% real-estate debt allocation, defer manager choice
Summary
Boards for the Cocoa Beach police and fire pension plans voted to approve a 5% allocation to real-estate debt managers and to defer selecting between Bloomfield Capital and Mavic Capital until members can review additional due diligence.
The Cocoa Beach Police and Fire Pension boards voted to allocate 5% of each plan’s assets to a real-estate debt strategy and tabled the final selection of a manager for a future meeting.
The allocation decision came after Carrie, a Mariner investment consultant, presented a manager search that highlighted two debt-focused candidates — Bloomfield Capital and Mavic Capital — and recommended committing roughly $1 million per plan to the chosen strategy. Carrie said the recommended approach would shift 5% of the funds into predominantly debt-oriented real estate strategies while keeping the remaining real-estate target in more equity-oriented vehicles.
“Bloomfield’s current yield profile is attractive and very hands-on,” Carrie said during the presentation. “Mavic’s…
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