San Jose (Calif.) Federated City Employees’ Retirement System disclosed two new private markets commitments totaling $12 million.
The $3.3 billion pension fund committed $7 million to Hull Street Energy Partners III, a closed-end real assets fund that invests in the middle-market power sector, and $5 million to Silver Point Distressed Opportunity Institutional Partners II, a private credit fund managed by Silver Point Capital, according to a private markets program update included with Dec. 19 board meeting materials.
As of Sept. 30, the pension fund’s actual allocation to private markets was 22.7%; the target is 21%.
Private markets consultant Meketa Investment Group assisted.