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San Jose funds commit $33m to private real estate
Investors - NOVEMBER 15, 2019

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San Jose funds commit $33m to private real estate

by Kali Persall

Two pension funds for the City of San Jose have disclosed $33 million in commitments to private real estate, according to a memorandum released by investment officer Dhinesh Ganapathiappan on Thursday.

The San Jose Police and Fire Department Retirement Plan invested $11.5 million in Rockpoint Real Estate Fund VI, managed by Rockpoint Group, and $9.5 million in the Exeter Industrial Value Fund V, managed by Exeter Property Group.

In addition, the San Jose Federated City Employees’ Retirement System invested $6.5 million in the Rockpoint real estate fund, and $5.5 million in Exeter’s fifth industrial fund.

The Rockpoint commitments closed on Nov. 1 and the Exeter commitments on Nov. 13.

According to Ganapathiappan, these were new relationships for the city of San Jose’s retirement systems.

In August, the two San Jose pension funds committed $28 mill

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