San Jose FCERS approves $53m in commitments

The US public pension has backed two North America focused private equity funds.

Institution: San Jose Federated City Employees Retirement System
Headquarters: San Jose, United States
AUM: $2.11bn
Allocation to alternatives: 25.50%
Bitesize: $10-50m

San Jose Federated City Employees Retirement System announced commitments of $35 million to San Jose FCERS/Neuberger Berman Strategic Partnership and $18 million to Cross Ocean USD ESS Fund III.

The $2.11 billion public pension has a 25.50 percent asset allocation to alternative investments of which 19.10 percent is currently allocated to private equity investments. As illustrated in the chart below, San Jose FCERS has made a total commitment of $53 million to private equity funds so far in 2019.

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