SD
LP profile
San Diego City Employees' Retirement System
Pension fund · Founded 1926 · San Diego, United States
120
VC firms backed
$12B
AUM
~$240M
Allocated to VC (est. 2%)
01 · Background
Who San Diego City Employees' Retirement System is.
- Historical Background
- The San Diego City Employees' Retirement System (SDCERS) was established in 1927 by the City of San Diego to administer retirement benefits for its employees. The San Diego Unified Port District joined SDCERS in 1963, followed by the San Diego County Regional Airport Authority in 2003, expanding the system's membership.
- Source of Capital
- SDCERS is a multi-employer public pension fund. Capital is sourced from contributions made by the employees of the City of San Diego, the San Diego Unified Port District, and the San Diego County Regional Airport Authority, as well as from the investment returns of the fund.
- Allocation Strategy
- SDCERS allocates capital across a diversified range of asset classes, including public equity, fixed income, real estate, private equity, and infrastructure. The system has a long-term perspective and has been investing in real estate since 1990, with a target allocation of 70% to Core and 30% to Non-Core real estate investments. In 2023, the board approved new standalone allocations of 5% to private debt and 4% to diversified strategies to enhance the portfolio's resilience. The pension fund is also increasing its target allocation to infrastructure to provide better inflation protection for its portfolio.
02 · Fund commitments
The funds San Diego City Employees' Retirement System backs.
San Diego City Employees' Retirement System is a limited partner in 120 funds. 13 of them place in the Power Law Investor Ranking; those lead, best-ranked first.
Wellington Management
#80 Power Law
Uncork Capital
#97 Power Law
ICONIQ Capital
#130 Power Law
ICONIQ Growth
#136 Power Law
Amplify Partners
#145 Power Law
Craft Ventures
#148 Power Law
TPG
#158 Power Law
Bain Capital
#239 Power Law
KKR
#251 Power Law
Versant Ventures
#345 Power Law
Foundry
#441 Power Law
DN Capital
#481 Power Law
StepStone Group
#497 Power Law
Affinity Equity Partners
Alchemy Partners
AMP Capital
Baring Asset Management
BC Partners
Carlyle Cardinal Ireland - CCI
China Everbright Limited
Colony Yangtze (Shanghai) Investment Management Consulting Co.,Ltd
Core Capital
Europa Capital
HitecVision
Infracapital
Investcorp
M&G
Macquarie Infrastructure and Real Asset
Nio Capital
NREP
Openspace Ventures
Quinbrook Infrastructure Partners
Trustbridge Partners
03 · Allocation
How San Diego City Employees' Retirement System’s fund book is spread.
The 120 funds San Diego City Employees' Retirement System backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters.
- North America 9277%
- Europe 1916%
- Rest of world 98%
United States 91 · United Kingdom 13 · China 4 · Australia 2
How established those managers are
Managers grouped by how many funds they have raised — across the 83 of 120 with a fund history on record.
Emerging funds · 37
Established funds · 46
19
1
8
2
10
3
5
4
17
5-6
13
7-9
5
10-14
6
15+
Funds raised by the manager
04 · Other LPs
Other LPs.
Other pension funds in the Power Law LP ranking, closest to San Diego City Employees' Retirement System by combined power-law score — North America first, then the nearest worldwide.
🇸🇪
AP3
$51B AUM
45 VC funds backed
🇺🇸
Montana Board of Investments
$27B AUM
64 VC funds backed
🇺🇸
Louisiana State Employees' Retirement System
$12B AUM
36 VC funds backed
🇺🇸
State Board of Administration
$230B AUM
101 VC funds backed
🇫🇮
Elo
$30B AUM
85 VC funds backed
🇸🇪
AP6
$5.0B AUM
24 VC funds backed
🇺🇸
AT&T Umbrella Benefit Plan No. 1
12 VC funds backed
🇺🇸
Lowa Municipal Fire & Police Retirement System
$2.0B AUM
43 VC funds backed