San Francisco ERS Commits $550M to Alternatives

The San Francisco Employees’ Retirement System (SFERS) has disclosed up to $550 million in alternative investments, according to meeting materials from the September 15 board meeting.

Real Assets

$40 million was committed to infrastructure fund, Vision Ridge SAF Annex Fund. Vision Ridge Partners has previously closed their Sustainable Asset Fund III with $1.25 billion in committed capital. $65 million was committed to GCP SecureSpace Property Partners, a real estate fund managed by GLP Capital Partners. Additionally, $75 million was committed to opportunistic real estate fund JEN 8, managed by JEN Partners.

Private Credit

$70 million was allocated to the Arrow Credit Opportunities II USD Feeder fund, an opportunistic fund managed by Arrow Global. Lastly, a $300 million investment was approved in the Presidio Loan Fund, a direct lending fund managed by HPS.

As of June 30, 2022, the $33.1 billion SFERS had an actual and target allocation to real assets of 15.1% and 10% respectively. The actual and target allocation to private credit was 6.56% and 10% respectively.

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