The San Jose Police & Fire Department Retirement Plan recently allocated $50 million between four hedge funds.
The pension, which has $2.9 billion in assets under management, tapped funds that represent a number of different strategies. Multi-strategy, relative value, long/short equity, and Japan long/short equity are all strategies represented in the new allocations.
San Jose Police & Fire Department Retirement Plan has a target allocation of 10% for absolute return strategies. Within absolute return, relative value has a 35% target allocation while event driven has a 20% target allocation. Equity long/short’s target allocation is 15% and macro/directional has a 30% target allocation.
Read more about this allocation story online from Pensions & Investments.