San Francisco City & County Employees' Retirement System disclosed commitments and investments totaling up to $120 million, said a CIO report for the pension fund's upcoming board meeting Wednesday.
The $24.2 billion pension fund committed $50 million to natural resources fund Pelican Energy Partners III. SFERS previously committed up to $50 million to Pelican Energy Partners II in 2016. The commitment falls within SFERS' real assets asset class. As of Feb. 28, the actual allocation was 13.3%; the target is 17%.
The pension fund also invested up to $50 million in WndrCo LLC, a venture capital fund. WndrCo is a holding company that invests in digital media. The investment falls within the pension fund's private equity asset class. As of Feb. 28, the actual allocation was 15.5%; the target is 18%.
The pension fund also made a direct investment of $20 million in hedge fund Boyu Capital U.S. Fund. The investment, which closed on Feb. 23, was made through San Francisco Absolute Return Investors II, a limited partnership between SFERS and Blackstone Alternative Asset Management. It is the pension fund's first investment with Boyu Capital. The pension fund's absolute-return allocation as of Feb. 28 was 7.7%; the target is 15%.