Houston Firefighters' Relief and Retirement Fund

About Houston Firefighters' Relief and Retirement Fund

Houston Firefighters' Relief and Retirement Fund's investment portfolio is valued at $5.09 billion as of June 30, 2023, with investments in publicly traded equities, fixed-income securities, private equity, real estate, hedge fund, cash, and infrastructure. Its returns for the 1 year, 3 years, 5 years, 7 years, and 10 years were 4.2%, 11.7%, 8.5%, 9.0%, and 8.0% compared to benchmark returns of 6.3%, 7.7%, 6.8%, 7.2% and 6.8% respectively. As of June 30, 2023, the private equity portfolio was valued at $2.11 billion, representing 41.5% of the total portfolio. The private equity allocation consists of $431.75 million invested in private debt strategies. This is an increase compared to December 31, 2022, when the private equity portfolio was valued at $1.99 billion. As of June 30, 2023, the fund's private equity return for the 1 year, 3 years, 5 years, 7 years, and 10 years were -5.8%, 25%, 17.4%, 15.9%, and 15.3% compared to the benchmark return of -0.3%, 24.7%, 16.2%, 16.6% and 14.9%. Investments in private equity include buyouts, direct lending, distressed debt, mezzanine, private equity growth expansion, secondaries, and venture capital fund strategies diversified in geographical locations across the globe. The fund's investments are governed by the executive management team, with Mr. Ajit Singh serving as Chief Investment Officer.