San Francisco City & County Employees' Retirement System disclosed private equity and real assets commitments totaling up to $538 million in a report from interim CIO Kurt Braitberg ahead of its Dec. 8 board meeting.
In private equity, the $36.5 billion pension fund committed up to $200 million in aggregate to buyout funds Thoma Bravo Fund XV, Thoma Bravo Discover Fund IV and Thoma Bravo Explore Fund II; and A$75 million ($53 million) to BGH Capital Fund II, a middle-market buyout fund focusing on transactions in Australia and New Zealand.
The pension fund also made a follow-on commitment of up to $150 million to Knightsbridge H 2019, a venture capital fund managed by Knightsbridge Advisers. The pension fund previously committed $100 million to Knightsbridge H 2019 in 2019.
As of Nov. 30, SFERS' actual allocation to private equity was 30%.
In real assets, the pension fund committed up to $75 million to Peppertree Capital Fund IX, an infrastructure fund managed by Peppertree Capital Management; and a total of up to $60 million to Spring Lane Capital Fund II and Side Care Fund, natural resources funds managed by Spring Lane Capital.
As of Nov. 30, SFERS' actual allocation to real assets was 12.1%.