# San Jose Federated Retiree Health Care 115 Trust

San Jose Federated Retiree Health Care 115 Trust is a Pension Fund based in San Jose, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** San Jose, United States
- **Region:** North America
- **Address:** 200 E. Santa Clara St., San Jose, CA 95112, United States
- **Founded:** 1975
- **Assets under management:** $10B
- **Website:** www.sjretirement.com

## Regulatory record

- **Reports private funds:** No

## About

The San Jose Federated Retiree Health Care 115 Trust was established in 1975. It delivers retirement health benefits to eligible full-time and part-time City of San Jose employees through a defined contribution structure. The trust targets a balanced allocation that includes private equity at roughly 11 to 14 percent of assets. Confirmed holdings include American Core Realty Fund, LLC in real estate and Rhumbline DJ Brookfield Global Infrastructure. Additional positions cover public equity strategies such as Artisan Global Value Fund and Northern Trust Russell 3000 Index Fund. Geographic exposure spans the United States and global markets. Assets total 3272 million USD. The trust retains Meketa Investment Group as investment advisor since 2015 and works with custodians including Bank of New York Mellon. It attended the Fiduciary Investors Symposium in September 2024 and the Public Fund Summit East in July 2024. The trust operates under the oversight of the City of San Jose Department of Retirement Services with board members providing governance alongside the CIO. This structure separates plan administration from direct investment execution.

## Sectors

- Real Estate
- Infrastructure
- Private Equity

## People

- John Flynn — CEO of Retirement Services
- Prabhu Palani — Chief Investment Officer
- Anurag Chandra — Board Member
- Deborah Abbott — Board Member
- Spencer Horowitz — Board Member

## Questions

### Who runs investment decisions at San Jose Federated Retiree Health Care 115 Trust?

Prabhu Palani serves as Chief Investment Officer. John Flynn acts as CEO of Retirement Services. The board includes Anurag Chandra, Deborah Abbott and Spencer Horowitz.

### Does San Jose Federated Retiree Health Care 115 Trust participate in fund commitments or only direct deals?

The trust holds limited partner interests in vehicles such as American Core Realty Fund, LLC and Rhumbline DJ Brookfield Global Infrastructure. It also maintains public equity positions through external managers.

### What asset classes receive allocations from San Jose Federated Retiree Health Care 115 Trust?

Private equity receives a target allocation between 11 and 14 percent. Additional exposure includes real estate, infrastructure, commodities and public equities.

### Which industry associations does San Jose Federated Retiree Health Care 115 Trust maintain?

The trust holds memberships in NCPERS, SACRS and CALAPRS.

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Last updated: 2026-07-08T20:58:32.627Z

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