San Francisco City & County Employees’ Retirement System committed $75 million to Blue Torch Credit Opportunities Fund IV.
The $36.6 billion pension fund disclosed the Dec. 5 commitment to the direct lending fund managed by Blue Torch Capital in a report from CEO/CIO Alison Romano included with materials for its upcoming Dec. 11 board meeting.
SFERS previously committed $65 million to Blue Torch Credit Opportunities Fund III in 2023.
As of Nov. 30, the pension fund’s actual allocation to private credit was 8.8%; the target is 10%.
Separately, the pension fund is investing an additional $100 million in FGP Redwood Fund, a hedge fund managed by Freestone Grove Partners. The board originally approved an initial investment of $100 million in March.
On Dec. 1, $25 million of the additional investment was funded and subsequent fundings will occur at future dates until the full additional investment is reached, according to the report.
The investments were made through San Francisco Absolute Return Investors II, a limited partnership between SFERS and Blackstone Alternative Asset Management.
As of Nov. 30, the pension fund’s actual allocation to absolute return was 8.8% the target is 10%.
