San Francisco City & County Employees’ Retirement System disclosed one additional hedge fund investment and one follow-on venture capital commitment totaling $67 million in a report from CEO/CIO Alison Romano included with materials for its upcoming Nov. 13 board meeting.
The $36.2 billion pension fund invested an additional $50 million in Voleon Institutional Strategies Fund, a quantitative hedge fund managed by Voleon Capital Management. SFERS originally invested $50 million in the fund in 2019.
The additional investment, which closed Nov. 1, was made through San Francisco Absolute Return Investors II, a limited partnership between SFERS and Blackstone Alternative Asset Management.
Also, SFERS made a follow-on commitment of $17 million to LAV Fund VII, a venture capital fund managed by Lilly Asia Ventures, after originally committing $32 million to the fund in April. SFERS previously committed $32 million to LAV Fund VI and $16 million to LAV Fund VI Opportunities, both in 2021.
As of Oct. 31, the pension fund’s actual allocations to private equity and absolute return were 27.5% and 8.7%, respectively; their respective targets are 20% and 10%.
