San Francisco commits $50m to Gaw Capital fund
San Francisco City & County Employees' Retirement System has committed $50 million to Gaw U.S. Fund III, according to board meeting documents.
The fund is managed by Gaw Capital Partners, a private equity fund management company that focuses on global real estate markets.
In 2015, San Francisco committed $50 million to to Gaw Capital Partners' Gaw Capital U.S. Value-Add Fund.
In June, the firm announced that it had fully invested the fund’s predecessor, U.S. Fund II, following the recent purchase of the Oakland Marriott City Center in California.
Since its inception in 2005, GCP has raised equity of $8.7 billion and has $13 billion assets under management as of the second quarter of 2017. Gaw Capital Partners currently manages four real estate funds targeting the Greater China and A