San Francisco City & County Employees' Retirement System on Wednesday approved commitments totaling up to $140 million to real estate and private equity.
The $20.1 billion pension fund approved committing up to $50 million to ARCH Capital-TRG Asian Partners III, managed by ARCH Capital Management. The $500 million investment fund will make structured investments in residential, retail and life-style mixed-use development projects in the primary markets of greater China and the secondary markets of Singapore, Thailand and the Philippines.
The pension fund also committed up to $50 million to Centerbridge Capital Partners III, a $5.75 billion fund managed by Centerbridge Partners that will look for large buyout and debt-for-control investments in North America and Europe.
The retirement system also committed up to $40 million to Advent Latin America Fund VI, a $2 billion fund managed by Advent International. The fund will pursue control-oriented investments in Latin America, primarily in Brazil, Colombia and Mexico.
