FLAIA Legislative Update on House Bill 1417 - The State Board of Administration Raises Cap on Alternative Investments
MIAMI, March 7, 2012 -- The Florida Senate approved the Ring/Oliva Bill today, which increases the Florida State Board of Administration’s cap on alternative investments from 10% to 20%. Specifically, the House Bill 1417 now goes to Governor Rick Scott for his approval and signature. The Florida Senate approved without any debate a proposal that will double the amount of money the State Board of Administration, which manages Florida's $120 billion pension fund, can set aside for "alternative investments." The Florida Alternative Investment Association (FLAIA) has spent the past two