The $22.2bn pension fund has committed $50m to Asian real estate fund. : San Francisco Employees’ Retirement System (SFERS) has added to its real estate fund manager line-up with Asian value-add specialist Pamfleet. The $22.2bn (€19.12bn) pension fund said in a board meeting report that it has committed $50m to Pamfleet Real Estate Fund III, which invests in office, retail and residential properties in markets like Hong Kong and Singapore. Pamfleet is seeking to raise $350m for the fund. Its previous vehicle raised $400m in 2015, exceeding its target of $350m.