San Diego City co-investment portfolio nets 25.8 pct


San Diego City Employees' Retirement System, private equity, pension fund, GCM Grosvenor, StepStone Group
A passenger plane approaches to land as other aircraft taxi to the runway at the San Diego International Airport in San Diego, California, April 22, 2013. Photo courtesy REUTERS/Mike Blake
  • PE account with GCM values co-investments $194.8 mln
  • Co-investment portfolio marked at 1.61x
  • GCM, StepStone accounts also invest in PE funds, infra
San Diego City Employees’ Retirement System’s separate account with GCM Grosvenor deployed a little less than a third of its committed capital for private equity into co-investments, netting the retirement system a 25.8 percent internal rate of return, a report ...

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