San Francisco City & County Employees' Retirement System disclosed private equity commitments totaling $350 million in a report from CEO/CIO Alison Romano in materials for its upcoming May 18 board meeting.
The $33.2 billion pension fund committed $100 million to middle-market buyout fund Genstar Capital Partners XI; $80 million to TA XV-A, a middle-market buyout fund managed by TA Associates; $25 million to Pelion Ventures VIII, a venture capital fund managed by Pelion Venture Partners; $21 million to Mayfield XVII and $14 million to Mayfield Select III, both venture capital funds managed by Mayfield Fund; and $10 million to KVC Secondaries Fund III, a venture capital fund managed by Knightsbridge Advisers.
SFERS also made a follow-on commitment of $100 million to Knightsbridge H 2019, a venture capital fund managed by Knightsbridge Advisers. The pension fund originally committed $100 million to the fund in 2019 and made a previous follow-on commitment to the fund in 2021.
As of April 30, the pension fund's actual allocation to private equity was 30.4%; the target is 23%.