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Two institutional funds for the police and fire departments of the city of San Jose have backed the Clarion Lion Industrial Trust, a core real estate fund managed by Clarion Partners.
Acording to a recently released investment document, the San Jose Police and Fire Department Retirement Plan committed $18.5 million to the investment vehicle, and the San Jose Police and Fire Retiree Health Care Trust Fund committed $1.7 million.
The Lion Industrial Trust seeks to own, develop, manage and strategically sell industrial warehouse properties and land in 25 U.S. markets.
Earlier in January, two other pension funds with the city of San Jose — the San Jose Federated City Employees’ Retirement System and the San Jose Federated Retiree Health Care Trust Fund — invested in the Clarion Lion Industrial Trust, representing the city’s first commitments to this fund.
