SFERS Names Alternative Investment Chief

The San Francisco Employees’ Retirement System (SFERS) has named Donald Holcher as managing director of alternative investments and real estate. It is a new position. He previously had spent 10 years as a real estate investment officer with SFERS.


After an extensive nationwide search, David Kushner, Chief Investment Officer for the San Francisco Employees’ Retirement System, today announced the selection of Donald Holcher to serve as Managing Director of Real Estate and Alternative Investments and Robert Shaw to serve as Managing Director of Equities and Fixed Income. Mr. Holcher and Mr. Shaw will fill newly created roles to lead the private and public market areas of the Retirement System’s Investments Division.

Mr. Holcher is a 27 year industry veteran in Real Estate and has successfully managed the Retirement System’s Real Estate portfolio for the last 10 years.

Mr. Shaw has worked in the investment arena for more than 16 years and brought extensive industry savvy to the SFERS’ investment team in 2008 when he joined as the Senior Investment Officer for Equities.