San Jose (Calif.) Federated City Employees' Retirement System disclosed three commitments totaling $56 million in materials posted on its website for its upcoming Thursday board meeting.
The $2.1 billion pension fund committed $35 million to a private equity fund managed by Neuberger Berman, $18 million to Cross Ocean USD ESS Fund III, a private debt fund managed by Cross Ocean Partners, and $3 million to infrastructure fund Global Infrastructure Partners IV.
The name of the Neuberger Berman fund was not disclosed. The commitments were approved in prior board meetings in closed session.
The pension fund's actual allocations in private markets and commodities as of March 31 were 25.5% and 3% respectively. Their respective targets are 25% and 3%.
Prabhu Palani, chief investment officer, and Ron Kumar, investment operations supervisor, could not be immediately reached to provide further information.