Two San Jose, Calif., pension funds committed a total of $39 million to energy and real estate, said Ron Kumar, investment operations supervisor, in an email.
The $3.6 billion San Jose Police & Fire Department Retirement Plan and $2.1 billion San Jose Federated City Employees Retirement System committed $18 million and $10 million, respectively, to DRA Growth & Income Master Fund X, a diversified real estate fund managed by DRA Advisors.
The police/fire and federated plans also committed $7 million and $4 million, respectively, to Kimmeridge Energy Net Profits Interest Fund V, a natural resources fund.
As of March 31, the police and fire plan's actual allocations to core real estate and commodities were 4.1% and 2.1%, respectively, and the federated plan's actual allocations to core real estate and commodities were 3.5% and 3%, respectively.
