San Francisco City & County Employees' Retirement System disclosed five commitments and investments totaling up to $875 million in a report from CIO William J. Coaker Jr. for the upcoming March 11 board meeting.
The $26.6 billion pension fund is investing up to $300 million in Whale Rock Long Opportunities Fund, a long/short equity fund managed by Whale Rock Capital Management. The pension fund's initial investment of $200 million closed March 1 and SFERS expects to invest an additional $100 million on April 1.
The pension fund is also investing up to $200 million in Altimeter Partners Fund, a long/short equity fund managed by Altimeter Capital Management. The preliminary $150 million investment closed March 1, and SFERS expects to invest an additional $50 million when more capacity becomes available.
SFERS classifies both portfolios as opportunistic investments within its public equity portfolio. As of Feb. 29, the actual allocation to public equities was 33.9%.
Within its private credit asset class, SFERS committed up to $275 million to Presidio Loan Fund, a customized global senior debt "fund of one" managed by HPS Investment Partners, and up to $50 million to SASOF V, a special situations fund managed by Carlyle Aviation Partners.
As of Feb. 29, the actual allocation to private credit was 4%.
Finally, within its private equity asset class, the pension fund committed up to $50 million to Vista Foundation Fund IV, a buyout fund managed by Vista Equity Partners.
As of Feb. 29, the actual allocation to private equity was 20.5%.
