The San Francisco City & County Employees’ Retirement System will invest $130m in new private equity and private credit commitments, according to a report from CEO/CIO Alison Romano included in the materials for its upcoming board meeting on 14 August.
The $36.1bn pension fund has allocated $75m to Fortress Credit Opportunity Fund VI, an opportunistic credit fund managed by Fortress Investment Group. Additionally, SFERS has committed $35m to Resurgens Technology Partners III, a buyout fund, and $20m to NEA Secondary Opportunity Fund, a venture capital fund managed by New Enterprise Associates.
SFERS previously committed $75m to Fortress Credit Opportunity Fund V(A) in 2019 and a combined $100m to New Enterprise Associates 18 and NEA 18 Venture Growth Equity in 2022.
As of 31 July, SFERS had allocations of 27.6% to private equity and 8.6% to private credit, compared to its target allocations of 20% and 10% respectively.
