San Francisco City & County Employees’ Retirement System (SFERS) has allocated $100m to Qube Research & Technologies’ flagship Qube Fund, further strengthening its exposure to the multi-strategy hedge fund space, according to a report by Pensions and Investments Online.
The $36.5bn public pension fund disclosed the investment in a report from CEO/CIO Alison Romano, included in materials for its upcoming 12 March board meeting.
The commitment, which closed on 1 March, was executed through San Francisco Absolute Return Investors II (SFARI II), a bespoke limited partnership between SFERS and Blackstone Alternative Asset Management.
SFERS has been an active investor in Qube Research & Technologies, previously committing $75m to the firm’s Torus Feeder 2 fund through SFARI II.
As of 28 February, SFERS’ actual allocation to absolute return strategies stood at 9.6%, just shy of its 10% target.
The additional capital deployment into Qube Fund aligns with the pension’s broader efforts to optimise its hedge fund portfolio while capitalising on the expertise of leading alternative asset managers.
