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Sign in Sign up for a FREE subscriptionSan Jose, Calif., pension funds allocate $183m to real estate
Four San Jose, Calif., pension funds have placed $183 million of capital with both new and existing real estate managers.
The largest commitment went to TA Realty Core Property Fund with $106 million, spread across four San Jose plans. TA Realty Core Property Fund, an open-end core real estate fund managed by TA Realty, seeks to construct and operate a diversified portfolio of institutional-quality, core real estate holdings in major U.S. metropolitan areas, with an emphasis on steady income generation. This was an existing manager for all plans.
A $32 million commitment went to AIGGRE U.S. Real Estate Fund IV, a vehicle managed by AIG Global Real Estate that has a $1.5 billion fundraising target. The San Jose Police & Fire Department Retirement Plan contributed $22 million and San Jose Federated City Employees’ Retirement System contributed $10 million. This was a new manager for both pension plans.
In addition, a $25 million commitment was made to EQT Ex