San Jose (Calif.) Police & Fire Department Retirement Plan committed $10 million to Orion Mine Finance Fund IV.
The $5.4 billion pension fund disclosed the commitment to the real assets fund managed by Orion Resource Partners in materials for its March 6 board meeting.
Orion Mine Finance Fund IV invests globally in metals and precious metals needed for the clean-energy transition. The pension fund previously committed $9 million to Orion Mine Finance Fund III.
As of Sept. 30, the pension fund’s actual allocation to private markets was 27.4%; the target is 27.5%.
