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San Jose Police & Fire signs onto venture capital fund

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San Jose (Calif.) Police & Fire Department Retirement Plan committed $10 million to Invesco Venture Alpha Fund II.

The $4.7 billion pension fund disclosed the commitment to the venture capital fund in materials for its upcoming Oct. 7 board meeting.

It is the pension fund’s first commitment to a private markets fund managed by Invesco, said Ron Kumar, the pension fund’s investment operations supervisor.

As of June 30, the pension fund’s actual allocation to private markets was 18%.