San Jose (Calif.) Police and Fire Department Retirement Plan committed $10 million to Northgate Venture Partners IX, a venture capital fund managed by Northgate Capital.
The $3.7 billion pension fund disclosed the commitment in materials for its upcoming Oct. 1. board meeting. It is the pension fund's first commitment to a Northgate Capital fund, said Ron Jumar, the fund's investment operations supervisor.
As of June 30, the San Jose fund's actual allocation to private markets was 19.1%; the target is 19%.
