SFERS approves $125m in commitments

The US public pension has backed two private debt funds in its latest commitments round.

Institution: San Francisco Employees’ Retirement System
Headquarters: San Francisco, United States
AUM: $27.39bn
Allocation to alternatives: 25.17%
Bitesize: $50-$100m

San Francisco Employees’ Retirement System has approved $125 million-worth of private debt commitments to two vehicles, according to the pension’s May board meeting packet.

The fund committed $50 million to HPS Mezzanine Private Investors 2019 and $75 million to Cerberus Levered Loan Opportunities Fund IV.

The US public pension has a 10.0 percent target allocation to private debt that currently stands at 3.87 percent.

As illustrated below, SFERS’ previous commitments to private debt funds have been to vehicles focused on senior or subordinated debt.

Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.