San Francisco City & County Employees' Retirement System disclosed four new commitments and investments totaling $185 million in a report from CEO/CIO Alison Romano in materials for its upcoming Jan. 19 board meeting.
The $32.6 billion pension fund disclosed commitments of $65 million to buyout fund Accel-KKR Capital Partners VII, and $50 million each to buyout fund Hellman & Friedman Capital Partners XI and Miravast ILS Credit Opportunities II, an opportunistic credit fund managed by Miravast Asset Management; and a direct hedge fund investment of $20 million in Squarepoint Atlas US Feeder, a global macro fund managed by Squarepoint Capital.
The hedge fund investment was made through San Francisco Absolute Return Investors II, a limited partnership between SFERS and Blackstone Alternative Asset Management.
The commitments to Accel-KKR and Miravast are the first to those managers for the pension fund. SFERS previously committed $50 million to Hellman & Friedman Capital Partners X in 2021 and invested $25 million in Squarepoint Focus U.S. Fund in 2020.
As of Dec. 31, the pension fund's actual allocations to private equity, absolute return and private credit were 30.7%, 10.2% and 7.6%, respectively; their respective targets are 23%, 10% and 10%.