The San Francisco City & County Employees’ Retirement System (SFERS) has announced one additional hedge fund investment and a new VC allocation ahead of its upcoming board meeting on 13 November, according to a report by Pensions & Investments Online.
Citing CEO/CIO Alison Romano, the report confirms an additional $50m investment in the Voleon Institutional Strategies Fund, a quantitative hedge fund operated by Voleon Capital Management, and an extra $17m to LAV Fund VII, a venture capital fund managed by Lilly Asia Ventures.
The Voleon commitment, which closed on 1 November, builds on an initial $50m investment made in 2019, and was facilitated through San Francisco Absolute Return Investors II, a partnership between SFERS and Blackstone Alternative Asset Management.
The Lilly Asia committee meanwhile, follows an original investment of $32m made in April. SFERS has also previously invested in other funds from Lilly Asia Ventures, including $32m in LAV Fund VI and $16m in LAV Fund VI Opportunities in 2021.
As of 31 October, SFERS’s portfolio allocations include 27.5% in private equity and 8.7% in absolute return strategies, with target allocations of 20% and 10%, respectively.
