Office of Program Policy Analysis and Government Accountability
Office of Program Policy Analysis and Government Accountability

SBA Has Implemented the Florida Growth Fund; Economic Impact of Investments May Not Be Apparent for Several Years

Report 09-45, December 2009




Report Summary

  • The State Board of Administration has implemented its authority to invest in Florida-based technology and growth companies and businesses that have a significant presence in the state. In June 2009, the board created the $250 million Florida Growth Fund and selected Hamilton Lane to manage fund investments.
  • As of December 2009, Florida Growth Fund managers had invested $26.5 million in two technology and growth companies and one private equity fund that invest in such companies. It is too early to assess the economic benefits of these investments, which may not be realized for several years.


Related Reports
  1. During Fiscal Years 2016 Through 2018, Major SBA Fund Returns Exceeded Market-Based Investment Benchmarks Over the Long Term
    Report 19-04 March 2019
  2. Florida Growth Fund Investments Have Provided More Than $363 Million in FRS Distributions; SBA Added a New Fund Manager and a $125 Million Tranche of Capital to the Program
    Report 19-02 January 2019
  3. Florida Growth Fund Investments Have Provided Over $300 Million in Distributions to the FRS; Fund Managers Continue to Seek New Investment Opportunities
    Report 18-02 January 2018
  4. Florida Growth Fund Investments Have Provided Over $200 Million in Distributions to the FRS; Fund Managers Continue to Seek New Investment Opportunities
    Report 16-08 December 2016
Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.
Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.
growth, technology, Florida Growth Fund, Florida Retirement System, life sciences, investments, Hamilton Lane, due diligence, private equity, co-investments, early-stage capital, start-up, economic benefits,pension funds, management fees