San Francisco City & County Employees Retirement System committed a total of about $100 million with four private equity funds. The $16.9 billion pension fund placed $30 million each with Apollo Investment Fund VII and TPG Partners VI, both large-market buyout funds, confirmed David Kushner, deputy director for investments. The system also placed $25 million with Fidelity Real Estate Opportunistic Income Fund and €10 million ($15.6 million) with Summit Partners Europe Private Equity Fund I. The commitments were approved at the systems board meeting Tuesday.
The board also rehired Northern Trust as global custodian under a five-year contract. An RFP was issued in early December; Northern Trusts current contract expires June 30.