San Francisco City & County Employees' Retirement System disclosed two new commitments totaling up to $340 million in a report from Interim CIO Kurt Braitberg, ahead of its Sept. 8 board meeting.
The $36 billion pension fund committed up to $300 million to Ares SFERS Credit Strategies Fund, a global senior debt fund managed by Ares Management, and a total of up to $40 million to Placer Ranch Investors and Sidecar Fund, real estate funds managed by JEN Partners.
As of Aug. 31, the pension fund's actual allocations to real assets and private credit were 11.6% and 5.2%, respectively.
Also, within private equity, SFERS disclosed an additional investment of $200 million in San Francisco Asia Investors, a customized separate account managed by Asia Alternatives Management, bringing its total investment to $800 million.
The pension fund originally invested $150 million in June 2014 and made additional investments of $200 million, $100 million and $150 million, respectively, in 2015, 2017 and 2018.
As of Aug. 31, the pension fund's actual allocation to private equity was 27.9%.