---
title: Pompano Beach Police & Fire Liquidates Two Funds
description: Pompano Beach Police & Fire Liquidates Two Funds.
image: https://dakotafunds.com/hubfs/Imported_Blog_Media/ft_laudy-2.jpg
---

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# Pompano Beach Police & Fire Liquidates Two Funds

**Written by: ** Koncheng Moua, Director of Data Management and Strategy 

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Pompano Beach & Police Firefighters’ Retirement System has approved the liquidation of two funds for the purpose of rebalancing the portfolio.

According to meeting minutes from the September 19 board meeting, the two funds that were closed were the Blackrock Global Long/Short Credit Fund and the Blackstone Alternative Multi-Strategy Fund. The Blackrock and Blackstone funds were the only two of three alternative investments that were liquid. In addition, $1.75 million was redeemed from the Cohen & Steers global infrastructure fund. Proceeds from the redemptions will be allocated to cash.

As of June 30, 2022, the value of the Blackrock account was approximately $2.35 million, and the value of the Blackstone fund was approximately $2.37 million.

Rebalancing was required to keep the alternative asset class within policy guidelines. The target range for alternatives is 25% of assets, and the actual weight was at 26.4%. The rebalancing will bring the weight down to approximately 24.61%.

Consultant, Graystone, assisted with the rebalancing recommendations.

*For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of [Dakota Marketplace](https://www.dakota.com/dakota-marketplace)! *

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 Tags: [Pension Funds](https://dakotafunds.com/dakota-funds/tag/pension-funds), [Alternative Insights](https://dakotafunds.com/dakota-funds/tag/alternative-insights)

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