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San Jose Police & Fire earmarks $19 million for real estate fund
San Jose (Calif.) Police & Fire Department Retirement Plan committed $19 million to Clarion Lion Industrial Trust.
The $4.1 billion pension fund closed the commitment to the open-end core real estate fund managed by
Clarion Partners on Jan. 4, according to materials for its board s upcoming Feb. 4 meeting.
The pension fund is currently invested in the manager s Clarion Lion Properties Fund. The portfolio had $80 million in assets in the plan as of Sept. 30.
As of Sept. 30, the actual allocation to core real estate was 4.7%.
Ron Kumar, investment operations supervisor, could not be immediately reached for further information.