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SFERS invests in Blue Torch Capital private credit fund

Private credit performed well for the pension in Q3.

Institution: San Francisco Employees’ Retirement System
Headquarters: San Francisco, United States
AUM: $28.2 billion
Allocation to Alternatives: 26.8%

San Francisco Employees’ Retirement System committed to a private credit fund from Blue Torch Capital, according to an October 2020 investment report from chief investment officer William Coaker.

Other highlights from SFERS’ annual investment plan:  

  • The pension invested $50 million Blue Torch Credit Opportunities Fund II, which is targeting $1 billion and focuses on the corporate sector in North America.
  • Private credit posted 4.69 percent in returns in Q3 due to a partial economic recovery, according to the investment document. The private credit asset class is up 0.58 percent year-to-date.
  • SFERS committed $500 million to private credit in 2020. The system has made over $1.6 billion in private market commitments this year.
  • SFERS plans to be carbon neutral by 2050 as part of its updated ESG policy, according to the report.
  • At its November board meeting, SFERS plans to review an updated strategic asset allocation recommendation.

William Coaker has served as SFERS’ CIO since 2014. He previously worked as a senior investment officer at the pension before leaving to work as senior managing director at University of California Office of the CIO, according to LinkedIn.

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