Port Orange Police Officers’ Pension Board — November 17, 2025: Investment report, IPS update, and $3.5M private equity commitment
At a glance
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The Police Officers’ Pension Board met November 17, 2025 in the Police Department Training Room. The board ratified routine expenditures, accepted an investment performance report showing quarter‑end market value of ~$77.67M, approved an updated Investment Policy Statement addressing new statutory restrictions, and approved a $3.5 million commitment to 50 South Private Equity Core Fund XII (to be funded by capital calls from domestic equity). The board also ratified a member’s entry into DROP, set 2026 quarterly meeting dates, and acknowledged the FY 2024/2025 detailed accounting report.
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Key decisions
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- Approved minutes of the August 18, 2025 quarterly meeting.
- Ratified plan expenditures: items 1–12 and items 17–19 as recommended (motion carried unanimously).
- Ratified Freiman Little Actuaries invoices (items 13–16) separately (motion carried unanimously).
- Accepted the investment performance report for the quarter ended September 30, 2025.
- Approved updated Investment Policy Statement incorporating restriction on direct investments in entities that boycott Israel (per recent legislation).
- Committed $3.5 million to 50 South Private Equity Core Fund XII (Offshore); funding to come from domestic equity as capital calls occur (motion carried unanimously).
- Ratified normal retirement benefit for Lt. Thomas Aiken upon entry into DROP effective September 1, 2025.
- Acknowledged receipt of the detailed accounting report for Fiscal Year 2024/2025 (total administrative expenses $234,381.12) and directed posting to the City website.
- Set 2026 quarterly meeting dates (Mondays at 2:00 p.m.): Feb 23, May 18, Aug 17, Nov 16, 2026.
- Directed plan administrator to provide the revised IPS to the Division of Retirement and others as required.
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Police Pension Board Meeting
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