San Francisco City & County Employees' Retirement System disclosed three new private equity commitments totaling $70 million in a report from CIO William J. Coaker ahead of its July 14 board meeting.
The $34.5 billion pension fund committed $25 million each to Pelion Ventures VII and Pelion Co-Invest I, both venture capital funds managed by Pelion Venture Partners, and $20 million to Altaris Padagis Co-Invest, a buyout co-investment fund managed by Altaris Capital Partners.
Also in the CIO report, Mr. Coaker said SFERS had a preliminary return of 34% for the fiscal year ended June 30. It is the highest return for the pension fund since at least 1986. The previous high was just over 23% in both fiscal years 1986 and 2000, he said.
Preliminary asset class returns were led by private equity at 65.8%, followed by public equities at 43.8%, private credit at 21.3%, absolute return at 13.7%, real assets at 9.2% and fixed income at 3%.
The report did not say whether the preliminary returns were gross or net of fees, and it did not disclose benchmark information or annualized return information for three, five or 10 years.
SFERS spokesman Stephen Worsfold could not be immediately reached for further information.