San José Federated City Employees' Retirement System

About San José Federated City Employees' Retirement System

The City of San José Federated City Employees' Retirement System is a public pension fund with a portfolio of $3.15 billion as of June 30, 2024, invested in domestic and international equity, fixed income, private equity, hedge funds, real estate, real assets, natural resources, infrastructure and cash. Returns for the quarter, 1 year, 3 years, 5 years and 10 years were 1.9%, 9.7%, 4.0%, 8.5% and 5.8%, against benchmark returns of 2.0%, 9.8%, 4.0%, 8.3% and 5.8% respectively. On June 30, 2024, the private equity portfolio was worth $546.92 million, or 17.4% of the total, down from $710 million on December 31, 2023. The allocation includes $26.77 million in venture capital and $131.27 million in private debt strategies. Private equity returns for the quarter, 1 year, 3 years, 5 years and 10 years were 4.9%, 6.4%, 13.0%, 17.2% and 13.5%, compared with benchmark returns of 0.0%, 6.5%, 10.2%, 15.3% and 13.5%. Strategies include buyouts, private debt, diversified private equity, private equity growth expansion, venture capital, funds of funds and secondaries, diversified across Europe, Asia, North America and Oceania. The plan does not accept first-time fund investments. The real asset portfolio was valued at $70.92 million as of June 30, 2024. The Federated Retirement Plan Board governs the fund. Mr. Spencer Horowitz is Chairman of the Board. Meketa Investment Group, Verus Advisory, Inc. and Hanson Bridgett, LLP are the LP Consultants.

Real estate mandate

Contacts at San José Federated City Employees' Retirement System