SDCERS slows target investments pace for 2021

The pension anticipates that it will invest a combined $475m over the next three years in infrastructure and private equity.

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Institution: San Diego City Employees’ Retirement System
Headquarters: San Diego, US
AUM: $8.3 billion
Allocation to Alternatives: 27.9%

San Diego City Employees’ Retirement System has slowed its target investment pace for infrastructure, according to its private equity and infrastructure investment plan.

Other highlights from SDCERS’ annual investment plan include:

  • The pension will commit $125 million to the infrastructure asset class in FY 2021. The system combines infrastructure and private equity investments.
  • SDCERS will increase its average annual commitment to private equity to $150 million-$200 million to reach its preferred exposure for private equity and infrastructure, beginning in 2022. The pension anticipates that it will invest a combined $475 million over the next three years.
  • The system plans to make between three to seven commitments to funds per vintage year, according to the document.
  • The total value of infrastructure commitments trails behind that of private equity. In 2020, SDCERS committed $30 million to infrastructure funds, compared with the $72 million committed to private equity, the investment plan shows.

Elizabeth Crisafi serves as SDCERS’ chief investment officer, a position she’s held since 2009. She has been with the pension for nearly 13 years, according to her LinkedIn profile. Prior to joining SDCERS, Crisafi was the president and chief executive of Crisafi Investment Management.

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