New Star Asset Management has announced that the Florida State Board of Administration, which oversees the State of Florida’s $100 billion pension fund, has awarded New Star an EAFE mandate to manage approximately $470 million on its behalf.
This is a very significant client win for New Star Institutional Managers in the US, led by Mark Beale and Richard Lewis, and brings total institutional funds under management to approximately $5.5 billion (3 billion).
“We are delighted to have been selected by such a prestigious client,” commented Mark Beale. “We look forward to a long and productive association with the State of Florida.”