LPs

City of San Jose approves $10m commitment

The San Jose public pension has backed venture fund Invesco.

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Institution: City of San Jose Police & Fire Department Retirement Plan
Headquarters: San Jose, US
AUM: $4.68 billion
Allocation to private equity: 10.30%

City of San Jose Police & Fire Department Retirement Plan approved a $10 million commitment to Invesco Venture Alpha Fund II at its May 2021 investment committee meeting, according to meeting documents.

The $4.68 billion public pension has a 12 percent target allocation to private equity that currently stands at 10.30 percent.

As illustrated in the charts below, City of San Jose devotes 22.2 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for mostly diversified funds that are North America-focused.