San Jose Police and Fire Healthcare Trust approves $15m in commitments

The US public pension has backed two North America focused funds with a core strategy.

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Institution: City of San Jose Police and Fire Department Retirement Plan Healthcare Trust
Headquarters: San Jose, United States
AUM: $145.39m
Allocation to alternatives: 14.70%
Bitesize: $5-10m

City of San Jose Police and Fire Department Retirement Plan Healthcare Trust committed $8 million to BlackRock US Core Property Fund and $6 million to Lion Properties Fund (managed by Clarion Partners). Both funds will target core real estate throughout North America across diversified sectors.

The $145.39 million US public pension allocates 14.70 percent to alternative assets, 9.80 percent of which is devoted to real estate. Mr. Prabhu Palani is the current Chief Investment Officer.

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