San Jose (Calif.) Police & Fire Department Retirement Plan disclosed $88 million in private markets commitments completed in December.
The $5.3 billion pension fund disclosed commitments of $28 million each to Arbour Lane Credit Opportunity Fund IV, a distressed debt fund managed by Arbour Lane Capital Management, and Strategic Value Special Situations Fund VI, a special situations fund managed by Strategic Value Partners; $24 million to IPI Partners Fund III, a real estate fund that acquires and operates core-plus, value-added and build-to-suit data centers managed by a joint venture between real assets firm Iron Point Partners and ICONIQ Capital, Mark Zuckerberg's family office; $5 million to early stage venture capital fund Lerer Hippeau IX and $3 million to midstage venture capital fund Friends & Family Capital III.
The pension fund disclosed the commitments in a private markets program update included with materials for its Jan. 22 investment committee meeting.
As of June 30, the pension fund’s actual allocation to private markets was 27.2%; the target is 27.5%.
