Governor, CFO and Attorney General Confirm Recommended LGIP Management

On Tuesday, February 12, 2008, the Florida Cabinet met in Tallahassee. There was no discussion regarding insurance-related events and the Florida Office of Insurance Regulation was not on the agenda. To view the meeting agenda, click here.

General Bob Milligan, Interim Executive Director of the State Board of Administration (“SBA”), provided an update on recent SBA activities.

An SBA Audit Committee status report was given as well.

Governor Charlie Crist, Chief Financial Officer (“CFO”) Alex Sink and Attorney General Bill McCollum, acting as Trustees for the SBA confirmed General Milligan’s recommendation to hire Federated Investors, Inc. to manage the SBA’s Local Government Investment Pool (“LGIP”).

The meeting was then adjourned.

A press release issued on the matter by the Governor’s office is below.

 

Should you have any questions or comments, please do not hesitate to contact this office.

 

Governor Crist, Chief Financial Officer Sink, and Attorney General McCollum Confirm Recommendation of Federated Investors, Inc. to Manage Local Government Investment Pool

 

TALLAHASSEE – Governor Charlie Crist, Chief Financial Officer Alex Sink and Attorney General Bill McCollum today, acting as Trustees for the State Board of Administration (SBA), confirmed Interim Executive Director Bob Milligan’s recommendation to hire Federated Investors Inc. to manage the Local Government Investment Pool.

Governor Crist, CFO Sink and Attorney General McCollum also offered the following statement:

“Federated Investors’ tremendous experience and 53 years of past performance in investment management makes this firm an excellent choice to manage Florida’s local government investment pool. Its outstanding record, along with its high quality customer service, will be a benefit to Florida’s local leaders seeking a conservatively-managed investment fund.”

 

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