San Francisco City & County Employees' Retirement System disclosed new commitments and investments totaling $320 million, said a CIO report for the pension fund's upcoming board meeting Wednesday.
The $24.6 billion pension fund made a direct investment of $75 million in Perceptive Life Sciences Qualified Fund, a hedge fund managed by Perceptive Advisors. The manager identifies opportunities in health-care technologies. The investment, which closed on Feb. 1, was made through San Francisco Absolute Return Investors II, a limited partnership between SFERS and Blackstone Alternative Asset Management.
The pension fund also committed $50 million each to BroadRiver III, a private credit fund managed by BroadRiver Asset Management; OrbiMed Private Investments VII, a venture capital fund managed by OrbiMed Advisors; and Patria Brazilian Private Equity Fund VI, a buyout fund managed by Patria Investments, all of which closed Jan. 31.
The pension fund also committed $50 million to Sycamore Partners III, a buyout fund, which closed Jan. 12.
Finally, the pension fund committed $23.3 million to venture capital fund Battery Ventures XII and $21.7 million to co-investment fund Battery Ventures XII Side Fund, both of which closed Feb. 1.
As of Jan. 31, the actual allocations to absolute return, private debt and private equity were 7.2%, 1.6% and 14.9%, respectively.