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San Jose Federated board approves $135 million private‑markets pacing plan
Summary
Trustees voted to approve the board’s private‑markets pacing plan, setting a $135 million target for new commitments in the fiscal year beginning July 1 and keeping a higher IPS limit for exceptional years.
SAN JOSE — The San Jose Federated City Employees Retirement System board on Thursday approved its annual private‑markets pacing plan, setting target commitments of $135 million for the fiscal year that begins July 1.
Dinesh, the system’s private‑markets lead, told trustees the pacing plan guides how much the system should commit to private equity, private debt, real assets, growth real estate and other drawdown strategies each year so the plan can move toward its long‑term strategic asset allocation. “Ultimately, what we're looking for is approval of the target commitment amounts for the upcoming fiscal year, which starts on July 1,” Dinesh said.
The plan the board approved was the amount staff and consultants recommended after modeling 10‑year projections and…
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