San Jose (Calif.) Police & Fire Department Retirement Plan committed $5 million to Sierra Ventures XIII.
The $4.5 billion pension fund's board approved the commitment to the venture capital fund in closed session at its Jan. 5 meeting, said Ron Kumar, investment operations supervisor, in an email.
It is the pension fund's first commitment to a Sierra Ventures fund, Mr. Kumar said.
As of Dec. 31, the pension fund's actual allocation to private markets was 25.1%; the target is 25%.
