San Jose Federated commits $11 million to real estate fund
San Jose (Calif.) Federated City Employees Retirement System committed $11 million to Clarion Lion Industrial Trust.
The $2.5 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 Jan. 21 meeting.
The pension fund is currently invested in the manager s Clarion Lion Properties Fund, said Ron Kumar, investment operations supervisor. The portfolio had $49 million in assets in the plan as of Sept. 30.
As of Sept. 30, the actual allocation to core real estate was 4.6%; the target is 5%.
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San Jose Federated finds favor with distressed debt fund
San Jose (Calif.) Federated City Employees Retirement System committed $8 million to HPS Special Situations Opportunity Fund.
The $2.5 billion pension fund s commitment to the distressed debt fund managed by
HPS Investment Partners was disclosed in a memo included with Dec. 17 board meeting materials.
As of Sept. 30, the actual allocation to private markets was 21.4%; the target is 21%.
Ron Kumar, investment operations supervisor, could not be immediately reached for further information.
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