US pension SFERs commits $49m to two APAC funds

Golden Gate bridge, San Francisco, United States. Photo: Pixabay

San Francisco City and County Employees’ Retirement System (SFERS) has closed commitments of about $49 million to two investment funds operating in the Asia Pacific (APAC), per the US pension fund’s investment report.

SFERS closed a A$33 million ($24 million) commitment to CIVF VI Australia, a fund managed by US-headquartered Cabot Properties, in December. SFERS had earlier approved an investment, within the real assets portfolio, of up to A$40 million to the vehicle.

Cabot Properties acquires, develops, and manages global logistics properties. The firm has $13 billion worth of assets, according to its website.

SFERS said CIVF VI Australia is its third investment with Cabot Properties.

Separately, SFERS also made a $25-million commitment to China-focused healthcare venture capital fund BioTrack Capital Fund II last month.

Founded in 2017, BioTrack Capital is focused on investing and incubating innovative life science companies in China. In January 2019, the firm raised $159 million for its $175-million first fund, per a filing with the US Securities and Exchange Commission.

BioTrack Capital recently participated in a $19.2 million funding for Cargene Biopharma, a preclinical-stage biopharmaceutical company with operations in Singapore, the US and China. Other investments include Union Strong, a Beijing-based firm that uses AI and other technology to treat cerebrovascular diseases; digital healthcare payment services provider MediTrust Health; and genome sequencing technology QitanTech.

SFERS is also known as a limited partner in a spate of private equity and venture capital fund managers across APAC, such as Asia Alternatives, BGH Capital, Lightspeed China Partners, PAG Asia, Hillhouse Capital and GGV Capital, among others.

The $37 billion pension fund said it has generated an estimated return of 6.68% over the first half of its current fiscal year, led by private equity and real assets which have returned 16.66% and 13.84%, respectively.

For the calendar year of 2021, SFERS generated an estimated return of 22.3%, led by private equity which has returned 58.36%.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.