Sacramento County (Calif.) Employees’ Retirement System hired Snyder Capital Management to manage $110 million in a domestic small-cap value equities strategy and committed a total of $90 million to three alternatives funds, confirmed Steve Davis, chief investment officer for the $10.4 billion pension plan, in an email.
Funding details for the Snyder Capital hiring could not be immediately learned.
The retirement system committed $50 million to ISQ Global Infrastructure Fund III, an infrastructure fund managed by I Squared Capital. It also committed $20 million each to two venture capital funds: Canvas Venture Partners 3, managed by Canvas Ventures; and Khosla Ventures VII.
In addition, the three hedge funds that were put on watch July 20 — Lakewood Capital Partners for performance reasons; Winton Capital Management’s Winton Diversified Futures Fund for performance and organizational issues; and KLS Diversified Asset Management’s KLS Diversified Fund for performance and organizational issues — remain on the system’s watchlist. The Lakewood fund has $37 million in assets for the system, while the Winton and KLS funds manage $33 million each.
A Winton spokesman declined to comment, while representatives from Lakewood and KLS could not be reached for comment.