San Francisco Employees' Retirement System

About San Francisco Employees' Retirement System

San Francisco Employees' Retirement System is a public pension fund with an investment portfolio of $34.19 billion as of June 30, 2023, held in private equity, real estate, oil and gas, hedge funds, infrastructure, real assets, metal and mining, natural resources, agriculture, publicly traded equities, fixed-income securities, cash and other alternative asset classes. Returns over 1 year, 3 years, 5 years and 10 years were 4.25%, 10.71%, 8.48% and 9.05%, against benchmark returns of 13.01%, 10.10%, 7.62% and 8.42% respectively. The private equity portfolio was worth $10.10 billion on June 30, 2023, or 29.5% of the total portfolio, down from $10.81 billion on June 30, 2022. It is above the 23% target allocation. Private equity returns as of June 30, 2023 for 1 year, 3 years, 5 years and 10 years were 17.28%, 8.24%, 7.65% and 8.89%, against benchmark returns of 16.14%, 10.97%, 7.65% and 8.62% respectively. Exposure covers buyouts, co-investments, private debt, direct lending, fund of funds, mezzanine, diversified private equity, private growth equity, secondaries and venture capital fund strategies, diversified across the globe. The fund is open to any first-time fund investments. The real asset portfolio was worth $5.2 billion as of June 30, 2023. The executive management team governs the fund's investments, with Ms. Alison Romano as Chief Executive Officer & Chief Investment Officer. Aksia, Callan Associates, Cambridge Associates and NEPC act as L.P. Consultants.

Real estate mandate

Contacts at San Francisco Employees' Retirement System