San Francisco City & County Employees' Retirement System made five new commitments totaling $290 million, said a report from William J. Coaker Jr., chief investment officer, for the pension fund's upcoming board meeting Wednesday.
In private equity, the $25.1 billion pension fund committed $100 million to Hillhouse Fund IV, a China-focused growth equity fund managed by Hillhouse Capital Management, $50 million to K4 Private Investors, a growth equity fund managed by K1 Investment Management and $35 million to DCM IX, a venture capital fund managed by DCM Ventures.
In private debt, the pension fund committed $60 million to Pemberton European Strategic Credit Opportunities Fund, an opportunistic credit fund managed by Pemberton Asset Management.
In real estate, the pension fund committed £35 million ($45 million) to Kitty Hawk Capital Partners V, an opportunistic real estate fund managed by Revcap.
Separately, the pension fund returned an estimated gross 11.34% in the fiscal year ended June 30, said executive assistant Darlene Armanino in an email.
The best-performing asset class for the pension fund was private equity, which returned 17.53% for the fiscal year ended June 30, followed by domestic equities at 17.3%. Real assets returned 14.88%, followed by private debt at 13.49%; global equities, 13.3%; international equities, 6.97%; absolute return, 4.61%; and fixed income, 0.18%.
SFERS returned 13.7% in the fiscal year ended June 30, 2017. Benchmark information and annualized returns for longer periods were not immediately available.
As of June 30, the actual allocation was: 20.8% domestic equities, 17.4% international equities, 17.2% private equity, 14.5% real assets, 12.9% fixed income, 9.7% absolute return, 2.9% cash, 2.7% global equities and 1.9% private debt.
