DFX Intelligence
Allocator Intelligence
The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.
Public pension
San Francisco City and County Employees Retirement System
Public pensionmunicipalCA
Assets
$38B
Fiduciary net position, Jun 30, 2025 reported
Funded
n/a
not filed
Private markets target
n/a
no policy read
Commitments
3
3 dated closings
Allocation policy
No allocation policy has been read for this allocator yet. Public systems get theirs from the ACFR; corporate plans from the sponsor’s 10-K; plans from Schedule H lines.
Consultants and advisers
5 firms
- Wilshire General consultantthrough Jun 30, 2025 ACFR
- Mercer Investments LLC General consultantthrough Jun 30, 2025 ACFR
- Cambridge Associates General consultantthrough Jun 30, 2025 ACFR
- Aksia LLC General consultantthrough Jun 30, 2025 ACFR
- Callan LLC General consultantthrough Jun 30, 2025 ACFR
People
6 roles
Chief investment officer
Alison Romano
Chief Executive Officer and Chief Investment Officer (Jun 30, 2025) cdn.mysfers.org
Alison Romano,
Chief Executive Officer and Chief Investment Officer
- Anna Langs Managing Director, Asset Allocation, Risk Management and Innovative SolutionsAsset-class head
- David Francl Managing Director, Absolute ReturnAsset-class head
- Kurt Braitberg Managing Director, Public MarketsAsset-class head
- Tanya Kemp Managing Director, Private MarketsAsset-class head
- A.J. Thomas Retirement Board PresidentBoard chair
Manager roster
3 managers on the commitment tape
From the plan’s own commitment disclosures
- Blackstone1 rows, 1 re-ups, $75.0M, latest Jun 11, 2025
- Artemis Real Estate Partners Fund I1 rows, 1 re-ups, $60.0M, latest Jun 30, 2025
- Stripes, LLC1 rows, $50.0M, latest Jun 30, 2025
Commitments
3 rows, 3 dated closings
Dated closings (the plan’s own date)
| Date | Fund | Manager | Bucket | Amount | Vintage | Status | Source |
|---|---|---|---|---|---|---|---|
| Jun 30, 2025 | Artemis Real Estate Partners Healthcare Fund III, L.P. | Artemis Real Estate Partners Fund I | Real estate | $60.0M | Committed (dated)re-up | cdn.mysfers.org | |
| Jun 30, 2025 | Stripes VII, LP | Stripes, LLC | Venture | $50.0M | Committed (dated) | cdn.mysfers.org | |
| Jun 11, 2025 | Strategic Partners Infrastructure IV L.P. | Blackstone | Infrastructure | $75.0M | Committed (dated)re-up | cdn.mysfers.org |
Size and funding
58 readings
Fiduciary net position
$35B (2024-06) · $34B (2023-06) · $33B (2022-06)
Commitment history
3 decisions the board record started
One line per vehicle, folded across the board’s own minutes and the plan’s later reports: when the item was proposed or recommended, when the board approved it, when the closing was dated, and when the position first showed up in a report. A line is closed only when a closing date exists; held means the plan reports the position without one on this graph.
| Vehicle | Manager | Amount | State | Proposed | Approved | Closed | First reported | Other LPs |
|---|---|---|---|---|---|---|---|---|
| Artemis Real Estate Partners Healthcare Fund III, L.P. | Artemis Real Estate Partners Fund I | $60.0M | closed | - | - | Jun 30, 2025 | - | - |
| Stripes VII, LP | Stripes, LLC | $50.0M | closed | - | - | Jun 30, 2025 | - | - |
| Strategic Partners Infrastructure IV L.P. | Blackstone | $75.0M | closed | - | - | Jun 11, 2025 | - | - |
What changed
13 events
- Jan 14, 2026Search openedSan Francisco Employees' Retirement System (SFERS) opens a Actuarial Consulting Services search
- Jan 14, 2026Search openedSan Francisco Employees' Retirement System (SFERS) opens a Passive Large Cap Growth Index searchwith Northern Trust Investments, Incorporatedcdn.mysfers.org
- Jan 14, 2026Manager terminatedSan Francisco Employees' Retirement System (SFERS) terminates Vanguard (Passive Large Cap Growth Index)with Vanguardcdn.mysfers.org
- Nov 12, 2025Manager terminatedSan Francisco Employees' Retirement System (SFERS) terminates T. Rowe Price (SFDCP Large Cap Growth Equity Fund)
- Nov 12, 2025Search openedSan Francisco Employees' Retirement System (SFERS) opens a SFDCP Large Cap Growth Equity Fund search
- Jul 9, 2025Manager terminatedSan Francisco Employees' Retirement System (SFERS) terminates Boyu Capital Investment Management Limited (Equities)
- Jun 30, 2025Re-upSan Francisco City and County Employees Retirement System re-ups with Artemis Real Estate Partners Fund I: $60M to Artemis Real Estate Partners Healthcare Fund III, L.P. (the minutes' own words)with San Francisco City and County Employees Retirement Systemcdn.mysfers.org
- Jun 30, 2025Commitment closedSan Francisco City and County Employees Retirement System commits $50M to Stripes VII, LP (Stripes, LLC), closed 2025-06-30with Stripes, LLCcdn.mysfers.org
- Jun 30, 2025Commitment closedSan Francisco City and County Employees Retirement System commits $60M to Artemis Real Estate Partners Healthcare Fund III, L.P. (Artemis Real Estate Partners Fund I), closed 2025-06-30with Artemis Real Estate Partners Fund Icdn.mysfers.org
- Jun 11, 2025Commitment closedSan Francisco City and County Employees Retirement System commits $75M to Strategic Partners Infrastructure IV L.P. (Blackstone), closed 2025-06-11with Blackstonecdn.mysfers.org
- Jun 11, 2025Re-upSan Francisco City and County Employees Retirement System re-ups with Blackstone: $75M to Strategic Partners Infrastructure IV L.P. (the minutes' own words)with San Francisco City and County Employees Retirement Systemcdn.mysfers.org
- Jun 30, 2024Assets changedSan Francisco City and County Employees Retirement System total assets $33.7B -> $35.4B (+5.3%, 2023-06-30 to 2024-06-30)
- Jun 30, 2024Assets changedSan Francisco City and County Employees Retirement System fiduciary net position $33.7B -> $35.4B (+5.1%, 2023-06-30 to 2024-06-30)
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: Census PID6 119392
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 16, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.