SJ Retirement reveals PE pacing plan

The US pension fund revealed their 2023/24 private equity pacing plan.

City of San Jose Police & Fire Department Retirement Plan has outlined its private equity pacing plan for the 2023/24 fiscal year, per a recent investment committee meeting document.

The meeting document shows that currently the pension has 8.5 percent of the plan invested in buyouts and 1 percent in venture capital, both below their respective targets of 9 and 4 percent. In addition to this the total private markets allocation of 20.5 percent is below the target of 25 percent.

In the recommended 2023/24 pacing plan the annual buyout commitment amount will remain at $100 million while the venture capital amount will decrease by $5 million to $35 million.

The chart below shows a breakdown of the plan’s 20.5 percent private market portfolio by asset class.

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