State unveils Florida Growth Fund - South Florida Business Journal:

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The fund will manage $250 million in capital on behalfd of the Florida Retirement System Pension The SBA isa state-runn agency that provides a variety of investmentr services to various governmentalp entities. “Florida needs leadership to develolpeconomic growth, because this is one of the biggest issuesa currently facing our state,” said Attorneyt General Bill McCollum, who was on hand for the launcuh of the fund. “We have to find a balancef way to stimulate our economy and solve theswe problems rather than simply relying on federal handouts.
” Hamilton Lane, an independeny private equity asset management Institution, will work with the SBA to develol and manage the fund for three The co-investment portion of the Floridaa Growth Fund will make investments alongside privatr equity partnerships based or operating in the State of according to a news release. Hamilto Lane’s co-investment team will "review each opportunity lookinf for a companyheadquartered in, or conducting a significant portion of its respective business in Florida; profitable companies; experience management teams; and attractive growtjh trends, the release states.
A selecyt number of partnerships, with a target commitment size ofapproximately $10 million to $20 million per venture, will receive the investment capital. The projec grew out of the Florida Technology and Growth Act that passed durin the 2008 Floridalegislative session. The act created the $250 milliob fund.