San Jose commits $340m to core real estate funds

Pension funds for the city of San Jose, Calif. have disclosed $340 million of core real estate commitments to funds managed by BlackRock and Clarion Lion, according to investment officer Dhinesh Ganapathiappan.San Jose will commit $200 million to BlackRock U.S. Core Property Fund and $140 million to Clarion Lion Properties Fund.

The commitments were dispersed via four of the city’s pension plans: San Jose Federated City Employees’ Retirement System, San Jose Federated Retiree Health Care Trust Fund, San Jose Police and Fire Department Retirement Plan, and San Jose Police and Fire Retiree Health Care Trust Fund.

The investments follow several others made by San Jose pension funds in recent months, including $18 million from the Police and Fire Department Retirement Plan and $10 million from the Federated City Employees’ Retirement System, made to DRA Advisors’ Growth