San Francisco City & County Employees' Retirement System hired Himalaya Capital Management to manage up to $200 million in a global equity strategy.
Himalaya is based in Pasadena, Calif., and will manage an opportunistic global value strategy for the plan. How the strategy will be funded could not be learned by press time. The $20.9 billion pension fund also committed up to $50 million to MBK Partners IV, a buyout fund concentrating on investments in South Korea, Japan and China.
The approvals were made in closed session at the board's November and December meetings, according to agenda materials for the board's Wednesday meeting.
Norm Nickens, board secretary, could not provide additional information by press time.