San Jose Police and Fire Retirement Plan approves $6m commitment

The US public pension has backed a global, multi-sector infrastructure fund.

Institution: City of San Jose Police & Fire Department Retirement Plan
Headquarters: San Jose, United States
AUM: $3.59bn
Allocation to alternatives: 22.06%
Bitesize: $5-10m

City of San Jose Police & Fire Department Retirement Plan committed $6 million to Global Infrastructure Partners IV. The fund will invest in companies throughout North America, Europe, Asia and Latin America within the energy, utilities and transportation industries.

The $3.59 billion US public pension has a 3% target allocation to infrastructure that currently stands at 0.85%.

As illustrated in the charts below, the pension allocates 22.06% to alternative assets. Mr. Prabhu Palani is the current Chief Investment Officer.

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