San Francisco ERS Commits $100M to VC, Hedge Funds

The San Francisco Employees Retirement System (ERS) allocated $100M in combined investments to two alternative funds, according to materials related to its upcoming November 13 board meeting.

Early stage venture capital strategy LAV Fund VII and hedge fund Voleon Institutional Strategies Fund each received $50M in commitments from the pension. The ERS said it already disbursed an initial $31.8M in April to the LAV fund, and another $16.6M as of its last public disclosure, for a total of $48.4M thus far, with subsequent closings to be expected until reaching the full commitment amount. Meanwhile, the pension closed its investment with Voleon on November 1. 

Per Dakota data, as of September 30, the current private equity allocation of the San Francisco pension stood at 27.5% against a 20% target, while its current hedge fund allocation is at 8.7% against a 10% target.

For more public pension insights and a comprehensive library of public plan minutes, book a demo of Dakota Marketplace! New call-to-action

Written By: Dakota

logo-1

The Database For Cold Outreach to Reach Institutional and RIA Investors