San Francisco City & County Employees' Retirement System disclosed commitments and investments totaling $148 million in a report from CIO William J. Coaker Jr. ahead of its Feb. 10 board meeting.
The $30.7 billion pension fund made a direct hedge fund investment of $100 million in RTW Innovation Fund, an opportunistic fund that invests in health-care companies managed by RTW Investments.
It is SFERS' first investment with RTW and is classified as an opportunistic investment within the pension fund's public equities portfolio.
As of Jan. 31, the actual allocation to public equities was 39.4%.
Also, SFERS committed $32 million to multistage venture capital fund LAV Fund VI and $16 million to late-stage venture capital fund LAV Fund VI Opportunities, both managed by Lilly Asia Ventures.
The pension fund previously committed up to $100 million to LAV Biosciences Fund IV in 2017.
As of Jan. 31, the actual allocation to private equity was 22.7%.