The Fire and Police Pension Fund of San Antonio provides retirement, death and disability benefits for the City of San Antonio's police officers, fire fighters, retirees and their beneficiaries. As a limited partner, The Fire and Police Pension Fund of San Antonio is a public pension fund that has $1.4 billion assets under management. The fund engages in the following alternative investment strategies: buyouts/corporate finance, direct investments, energy/oil & gas, mezzanine, timber/farmland, and venture capital. The Fire and Police Pension Fund of San Antonio will commit from $10 million to $20 million per partnership and has a net internal rate of return target of 20%. The fund allocates 5% to 10% of its total assets to alternative investments. It was formed in 1994 and is based in San Antonio, Texas.