San Francisco City & County Employees' Retirement System committed a total of $75 million to two alternatives funds, confirmed Robert Shaw, interim CIO and director of public markets.
The $18.7 billion pension fund committed $50 million to DivcoWest Fund IV, a value-added real estate fund, and $25 million to Draper Fisher Jurvetson Fund XI, an early-stage venture capital fund.
The pension fund invested in the previous DFJ fund; it is the first commitment to DivcoWest.
Separately, SFERS named Northern Trust, State Street and BNY Mellon as finalists for its global custodian search. Northern Trust is the incumbent. An RFP was issued in August.