San Jose Police and Fire Department Retirement Plan

Public pensionpolice fire· California

Public pension, based in California, reporting $5.1B in assets, for 4,703 participants.

Composed from this allocator's classification, location and filed figures.

Assets
$5.1B
Fund commitments
102
Managers
29
As of · the latest dated event for this allocator; each figure carries its own filing or report date

Nothing material in the last 90 days. Last change: 30 Jun 2025, San Jose Police and Fire Department Retirement Plan reports Park Square II: $50M committed (Park Square Capital) (as of 2025-06-30).

11 more people, 26 more managers, 100 more commitments and 92 more dated events

Every figure, date and source on this page is shown. The names behind them, and every related record, open with the complete profile.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

People to know

View all people
  • Chief Investment Officer
    Why: Chief investment officer: owns the allocation decision
    No route on file yet
  • Head of Private Markets, Senior Investment Officer
    Why: Heads an investment area
    No route on file yet
  • Chief Executive Officer
    Why: Runs the firm (chief executive or president)
    No route on file yet

Capital path

who backs this record, through what, into what; each name opens its own path
Who decides
All 14
San Jose Police and Fire Department Retirement Plan
Funds committed to
All 47
Managers
All 29

Relationship network

146 connected entities103 observed commitments5 repeat counterparties$1.7B disclosed commitments (97 commitments)4 dated commitments shown here, 2025

From board minutes, annual reports, Form 5500 filings and public records of commitments, consultants and staff in the allocator graph. Commitment amounts are those the allocator disclosed; many are not printed, and none is estimated.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the commitments and sources behind it. Line weight is commitments together; dashed lines are inferred.

Reading the network
  • Sponsor
  • Fund or vehicle
  • Service provider
  • Person
›How strength and recency are read

Managers, funds and consultants are read from the commitments: three or more is a strong observed relationship, two a repeat counterparty. No consultant link is marked current on the source, so none is labelled current or former here. Related plans, people and plan service providers are ordered by what the filing shows.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

Size, funding, policy and commitments, with their basesPublic pensionShow
Public pension
Assets
$5.1B
Total assets, Jun 30, 2024 reported
Funded
not on record
not filed
Private markets target
no policy read
no policy read
Commitments
102
none on the tape

Consultants and advisers

1 firm
  • Cheiron Actuarythrough Jun 30, 2024 ACFR

Decision makers

who to call first about an allocation, and why; then everyone else by function
  • Jay Kwon · Chief Investment Officer
    Why this person: Chief investment officer: owns the allocation decision; Named with investment responsibility
  • Dhinesh Ganapathiappan · Head of Private Markets, Senior Investment Officer
    Why this person: Heads an investment area; Named with investment responsibility
  • John Flynn · Chief Executive Officer
    Why this person: Runs the firm (chief executive or president)

Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.

People

14 roles
Chief investment officer
Jay Kwon
Chief Investment Officer (Sep 30, 2026) sjretirement.com
e in Troy, New York, and is a certified Project Management Professional (PMP). Jay Kwon, CFA, CAIA Chief Investment Officer Learn More about Jay Kwon, CFA, CAIA Jay Kwon, CFA, CAIA Chief Investment Of

+11 more people on the investment staff and board

Every name, title and published role at this allocator, with the page it was read from.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Manager roster

29 managers on the commitment tape
From the plan’s own commitment disclosures

+26 more managers received commitments

Every name, record and relationship behind this count, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

What changed

97 events
  • Jun 30, 2025Commitment disclosedreport date
    San Jose Police and Fire Department Retirement Plan reports Park Square II: $50M committed (Park Square Capital) (as of 2025-06-30)
    with Park Square Capitalsjretirement.com
  • Jun 30, 2025Commitment disclosedreport date
    San Jose Police and Fire Department Retirement Plan reports Next Play SJPF: $10M committed (as of 2025-06-30)
    with Next Play SJPF, LPsjretirement.com
  • Jun 30, 2025Commitment disclosedreport date
    San Jose Police and Fire Department Retirement Plan reports Brookfield RE I: $10M committed (as of 2025-06-30)
  • Jun 30, 2025Commitment disclosedreport date
    San Jose Police and Fire Department Retirement Plan reports AG Credit Fund II: $21M committed (as of 2025-06-30)
    with AG Credit Solutions Fund II, L.P.sjretirement.com
  • Jun 30, 2025Commitment disclosedreport date
    San Jose Police and Fire Department Retirement Plan reports DRA X: $18M committed (as of 2025-06-30)
    with DRA Growth & Income Fund X, LLCsjretirement.com

+92 more dated events

Every name, record and relationship behind this count, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.

Commitments

103 rows, 0 dated closings
DateFundManagerBucketAmountVintageStatusSource
as of Jun 30, 2025Cross Ocean ESS IunresolvedPrivate credit$90.0M2013Disclosed holdingsjretirement.com
as of Jun 30, 2025Cross Ocean ESS IIunresolvedPrivate credit$75.0M2016Disclosed holdingsjretirement.com
as of Jun 30, 2025Tiger Iron SJPFTiger Iron Capital, LLCVenture$55.0M2022Disclosed holdingsjretirement.com

+100 more commitments

Every fund and manager this allocator committed to, with the amount, date and source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Size and funding

57 readings
Total assets
$5.1B Jun 30, 2024 reported Census ASPP
$4.7B (2023-06) · $4.4B (2022-06)
Fiduciary net position
$5.1B Jun 30, 2024 reported Census ASPP
$4.7B (2023-06) · $4.4B (2022-06)
Long-term investments
$4.2B Jun 30, 2024 reported Census ASPP
$4.1B (2023-06) · $3.7B (2022-06)
Total pension liability
$1.0B Jun 30, 2024 derived Census ASPP
$1.1B (2023-06) · $1.2B (2022-06)
Discount rate
6.60% Jun 30, 2024 reported Census ASPP
6.62% (2023-06) · 6.62% (2022-06)
Participants
4,703 Jun 30, 2024 derived Census ASPP
4,655 (2023-06) · 4,600 (2022-06)
Active members
1,640 Jun 30, 2024 derived Census ASPP
1,695 (2023-06) · 1,746 (2022-06)
Beneficiaries
2,651 Jun 30, 2024 reported Census ASPP
2,598 (2023-06) · 2,518 (2022-06)
Benefits paid
$291M Jun 30, 2024 reported Census ASPP
$275M (2023-06) · $259M (2022-06)
Investment expense
$20.0M Jun 30, 2024 reported Census ASPP
$18.6M (2023-06) · $14.9M (2022-06)

Provenance

Identifiers: Census PID6 100747
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 25, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.

Not yet on record: funded ratio, private markets allocation target, allocation policy.

Capital chain

San Jose Police and Fire Department Retirement Plan sits on 39 traced paths of capital across the graphs.

Allocator to PE fund to manager to companyAllocator commitments to a manager

DFX traced 39 paths of capital through this record

Every record on each path, what it committed or lent, and as of when.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

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Record history

97 dated events on the change ledger, latest event first
  • Commitment disclosed
    2025-06-30source on record
  • Commitment disclosed
    2025-06-30source on record
  • Commitment disclosed
    2025-06-30source on record

+94 more changes on this record's ledger

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

›Connections

every published relationship on the graph

+48 connections on the graph

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.