San Francisco City & County Employees' Retirement System announced new commitments and investments totaling $823 million, said a report from Chief Investment Officer William J. Coaker Jr. for the upcoming board meeting Wednesday.
Within real assets, the $24.5 billion pension fund committed €100 million ($113 million) to Tristan European Property Investors Special Opportunities 5, a European real estate fund managed by Tristan Capital Partners; €75 million to real estate fund Niam Nordic VII; $50 million to Gateway Real Estate Fund VI, a China real estate fund managed by Gaw Capital Partners; $50 million to ARCH Capital Asian Partners IV, a real estate fund managed by ARCH Capital Management; $25 million to Carmel Partners Investment Fund VII, a real estate fund targeting U.S. multifamily value properties; $25 million to Ares SCM Co-Investment and $15 million to AF V APR Co-Invest, both natural resources funds managed by Ares Management; and $15 million to Pelican Coinvestors 2018A, a natural resources fund managed by Pelican Energy Partners.
As of Oct. 31, the pension fund's actual allocation to real assets was 15.4%.
Within private equity, SFERS committed $50 million each to buyout funds Hellman & Friedman Capital Partners IX, Thoma Bravo XIII and Vista Equity Partners Fund VII, managed by Vista Equity Partners Management; $35 million to Versant Venture Capital VII, a venture capital fund managed by Versant Ventures; and up to $30 million to San Francisco SW HC, a private equity co-investment fund managed by K1 Investment Management. The pension fund also added $150 million to San Francisco Asia Investors, a customized separate account managed by Asia Alternatives Management, bringing its total investment to $600 million. SFERS originally invested $150 million in June 2014 and made additional investments of $200 million and $100 million, respectively, in August 2015 and June 2017.
As of Oct. 31, the pension fund's actual allocation to private equity was 18.6%.
Within private credit,SFERS committed $50 million to infrastructure fund New Energy Capital Infrastructure Credit Fund II and 112.6 million reals ($30 million) to Jive Distressed Fund II, a Brazilian distressed debt fund managed by Jive Asset Management.
As of Oct. 31, the pension fund's actual allocation to private credit was 2.2%.