San Diego Fund Weighs Private Equity

The $4.6 billion San Diego City Employees’ Retirement System (SDCERS) is considering its first allocation to private equity, according to published reports. A change in asset allocation could be good for the problem-plagued fund, which currently has an approximate shortfall of $1.4 billion. Additional details regarding the possible maiden investment could not be ascertained, as Doug McCalla, CIO for the San Diego plan, did not return calls for comment. Currently, SDCERS’ asset allocation is 39% domestic equity, 31% domestic fixed income, 16% international equity, 8% real estate equity, and 5% international fixed income, according to Nelson’s MarketPlace Web.com. Reportedly, Callan Associates is assisting SDCERS’ board in investigating the asset class. These stories were originally printed in Investment Management Weekly, a sister publication of Mergers & Acquisitions. (c) 2007 Mergers and Acquisitions Journal and SourceMedia, Inc. All Rights Reserved. http://www.majournal.com http://www.sourcemedia.com