San Jose Plan Eyes Private Equity

As a means of diversifying its $1.2 billion in assets, the Federated City Employees’ Retirement System of San Jose is gearing up to make its first foray into the private equity asset class with a search for a private equity fund-of-funds manager.

San Jose Investment Officer Donna Busse, said that the plan would allocate approximately $35 million to the asset class.Funding would be gleaned from the plan’s domestic equity allocation.

Busse said that requests for proposals had yet to be drafted and Margaret Jadallah of Strategic Investment Solutions would assist with the process. Busse would not speculate on a timeframe for the issuance of the RFP or for completion of the search.