Austin Fire Fighters commits $15m

The $860bn US public pension backs a Silicon Valley venture fund of funds.

Austin Fire Fighters Relief and Retirement Fund approved a $15 million commitment to SVB Strategic Investors Fund IX, Silicon Valley Bank’s ninth venture fund of funds, according to recently disclosed minutes from February’s board meeting.

The $860 million US public pension has a 23 percent allocation to private equity, above its target of 15 percent.

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