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.

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