Chief Investment Officer William Coaker Jr, hedge fund investment, institutional hedge fund investment, Pension Funds, San Francisco City & County Employees’ Retirement System, San Francisco City & County moving 5% to hedge funds
BY RANDY DIAMOND | FEBRUARY 11, 2015 9:00 PM | UPDATED 10:22 AM
San Francisco City & County Employees’ Retirement System approved a plan Wednesday night to begin investing in hedge funds.
The 5% allocation to hedge funds — $1 billion of the $20 billion pension fund’s assets — is a scaled-down version of Chief Investment Officer William Coaker Jr.’s proposal to invest $3 billion in hedge funds, or 15% of assets.
Mr. Coaker scrapped that plan last week in the face of strong objections from board members who thought it was too risky and revised his proposal, recommending a 10% allocation.