Former SFERS Trustee Dives into Private Equity
December 14, 2009
Michael Kim, former San Francisco City and County Employees’ Retirement System (SFERS) Investment Committee Chairman and President, announced the creation of a new private equity firm.
In a statement today, Kim said that Cedana Capital, the new non-traditional venture capital investment firm, has taken shape. It plans to implement “a tactical and opportunistic strategy” with a “next generation fund-of-funds” approach, the release stated.
Cedana Capital, which is headquartered in San Francisco, is expected to “draw upon its substantial limited partner and general partner expertise” to “execute” its strategy.
"Many institutional investors face significant challenges to achieving appropriate risk adjusted investment returns,” Kim said in the release. “There is a large and growing opportunity for next generation investors to construct optimal portfolios by better assessing risk opportunities across the entire private equity continuum."
From March 2004 to September 2009, Kim served as a trustee for $13 billion system, the release said.
“Michael is a trusted advisor, and we look forward to his perspectives of the private equity world,” SFERS Executive Director Clare Murphy said in the release.
Kim, who was one of the original partners at venture capital firm Rustic Canyon Partners, will “transfer his responsibilities” from the Santa Monica-based institution by the end of the year, the release said.
Tom Unterman, Rustic Canyon Partners managing partner, said in the release that he cherished his relationship with Kim over the past 10 years. He added that the firm looks forward “sharing insights with him in the future.”
For more information on related topics, visit the following:
