City of Jacksonville Awards Financial Services Contract to Ares Management (September 2023)
City of JacksonvilleCity · Jacksonville, FL- Disclosed value
- $15,000,000 commitment
- From meeting minutes
- Approved
- Sep 22, 2023
- Renews
- Free account
The 30-second brief
The Board of Trustees approved a $15 million commitment to Ares Management's AREOF IV, an opportunistic US real estate fund with an 8-year term and options for extension. The allocation is part of the pension fund's alternative investments strategy.
Ares Management holds this financial services contract with City of Jacksonville. Its other public contracts on record include work for Massachusetts Pension Reserves Investment Management Board | Commonwealth of Massachusetts and Duval County.
The renewal date is on record. A free account shows it, with the renewals for every City of Jacksonville contract.
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Contract details
- Contract type
- Financial Services
- Amount
- $15,000,000 commitment
- Document date
- September 22, 2023
- Term
- 8-year term, extendable by two 1-year periods
- Renews
- Free account
- Vendor
- Ares Management
- Agency
- City of Jacksonville
- Source document
- duval-county-meeting-minutes-2023-09-22_b44.pdf (Meeting Minutes)
Ares Management's other public contracts
More City of Jacksonville contracts
Questions about this contract
Who was awarded the financial services contract by City of Jacksonville?
Ares Management was awarded this financial services contract by City of Jacksonville, as recorded on September 22, 2023. The contract value is $15,000,000 commitment.
How much is the Ares Management contract with City of Jacksonville worth?
The Ares Management contract with City of Jacksonville is valued at $15,000,000 commitment, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a meeting minutes record.
Where was this contract approved?
This contract appears in duval-county-meeting-minutes-2023-09-22_b44.pdf (Meeting Minutes), dated September 22, 2023 from City of Jacksonville. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Ares Management hold?
Ares Management may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Jacksonville currently buying?
Explore City of Jacksonville's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.