Yes, they will, please see 10.4.5.1 Static field initialization:
The static field variable initializers of a class correspond to a sequence of assignments that are executed in the textual order in which they appear in the class declaration. If a static constructor (Section 10.11) exists in the class, execution of the static field initializers occurs immediately prior to executing that static constructor. Otherwise, the static field initializers are executed at an implementation-dependent time prior to the first use of a static field of that class.
That being said I think it would be better to do the initialization inside a static type initializer (static constructor).