San Francisco City & County Employees' Retirement System disclosed commitments and investments totaling $392 million in a report from CIO William J. Coaker Jr. for its upcoming board meeting Wednesday.
Within private equity, the $25.7 billion pension fund committed a total of $150 million to three buyout funds managed by Thoma Bravo: $75 million to Thoma Bravo Discover Fund II, $50 million to Thoma Bravo Fund XIV and $25 million to Thoma Bravo Explorer Fund; and also committed up to £50 million ($62 million) to buyout fund Livingbridge 7.
As of May 31, the actual allocation to private equity was 21.8%.
Separately, SFERS made a direct investment of $100 million in the Children's Investment Fund, a hedge fund managed by TCI Fund Management, which the pension fund allocated to its public equity asset class.
As of May 31, the actual allocation to public equities was 33.2%.
Within its private credit asset class, the pension fund made a follow-on commitment of $55 million to MGG SF Evergreen Unlevered Fund, a direct lending fund managed by MGG Investment Group. SFERS originally committed up to $75 million to the fund in November 2018.
As of May 31, the actual allocation to private credit was 4.7%.
Within absolute return, SFERS invested $25 million in Squarepoint Focus U.S. Fund, a quantitative hedge fund managed by Squarepoint Capital. The investment, which closed May 1, was made through San Francisco Absolute Return Investors II, a limited partnership between SFERS and Blackstone Alternative Asset Management.
As of May 31, the actual allocation to absolute return was 13.9%.
