San Francisco City & County Employees' Retirement System announced commitments totaling $325 million to alternative investment funds in a report from CIO William J. Coaker Jr. for the upcoming board meeting Wednesday.
In private equity, the $25.1 billion pension fund committed $100 million to The Rise Fund II, a growth equity fund managed by TPG; $56 million to Genstar Capital Partners IX and $19 million to Genstar IX Priority Co-Invest Program, buyout funds managed by Genstar Capital; and $50 million to buyout fund ABRY Partners IX.
The pension fund previously committed up to $100 million to The Rise Fund and $50 million to ABRY Senior Equity V, both in 2016. The Genstar commitments are SFERS' first commitments to that manager.
As of Feb. 28, the actual allocation to private equity was 19.8%.
In private credit, the pension fund committed $50 million to New Mountain Net Lease Partners, a real estate debt fund managed by New Mountain Capital. It is SFERS' first commitment to the manager.
As of Feb. 28, the actual allocation to private credit was 2.5%.
In real assets, the pension fund committed $50 million to Cerberus Global NPL Fund, a real estate fund managed by Cerberus Capital Management. The pension fund previously committed up to $100 million to Cerberus Institutional Real Estate Partners IV in 2015.
As of Feb. 28, the actual allocation to real assets was 16.1%.