San Jose FCERS approves $12m in commitments

The US public pension has backed two North America focused funds.

Institution: San Jose Federated City Employees’ Retirement System
Headquarters: San Jose, United States
AUM: $2.11bn
Allocation to alternatives: 25.50%
Bitesize: $10-50m

San Jose Federated City Employees’ Retirement System announced commitments of $6.50 million to Rockpoint Real Estate Fund VI and $5.50 million to Exeter Industrial Value Fund V.

The $2.11 billion US public pension has an 8.0 percent target allocation to private real estate that currently stands at 2.2 percent. In 2019, San Jose FCERS has committed $133 million to real estate.

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