Four pension plans with the city of San Jose have made a combined $25 million follow-on commitment to the BlackRock U.S. Core Property Fund.
The open-end core real estate fund invests in the office, industrial, retail and apartment sectors across the United States and had raised more than $660 million as of April 2020, according to the latest SEC filing.
The four San Jose pension plans made the follow-on commitments to the fund in December 2020, according to several board meeting documents. The plans include the San Jose Police & Fire Pension with a $13 million commitment; the San Jose Federated City Employees’ Retirement System with a $7 million commitment; and the San Jose Federated Health Care Trust and the San Jose Police & Fire Health Care Trust each with a commitment of $2.5 million.
The plans initially committed a combined $200 million in January 2019.
