The $20 billion San Francisco City & County Employees’ Retirement System committed up to $185 million total to two private equity funds, said Norm Nickens, board secretary.
The board committed up to $100 million to CMC Capital Partners II, managed by China Media Capital, agenda material for the pension fund’s July 13 meeting shows.
Also at the May 9 meeting, the pension fund committed up to $85 million to the Bluescape Energy Partners’ Bluescape Energy Recapitalization and Restructuring Fund III.
This is the first time the retirement system has made commitments to funds managed by both managers, Mr. Nickens said.
The commitments were made in closed session at the May 9 board meeting.