# San Francisco City & County Retiree Health Care Trust Fund

San Francisco City & County Retiree Health Care Trust Fund is a Pension Fund based in San Francisco, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, United States
- **Founded:** 2008
- **Assets under management:** $1.3B (Altss estimate)

## Regulatory record

- **Reports private funds:** No

## About

The San Francisco City & County Retiree Health Care Trust Fund was established to manage health-plan assets for city and county retirees. Paul Denning serves as board president with David C. Salem as vice president; additional members include Al Casciato, Katharine Petrucione and Pauline A. Marx. The fund allocates across real-estate vehicles and venture-capital strategies. Confirmed holdings comprise AEW Core Property Trust and TA Core Property Trust in the United States plus Sculptor Real Estate Fund V on a global basis. The San Francisco Employees' Retirement System supplies investment and custody infrastructure while the San Francisco Community College District participates through its own sub-trust. Board composition and asset list constitute the only dated operational details available. No additional offices or headcount figures appear in the record. Governance rests with elected and appointed board members drawn from active and retired employee groups plus controller and treasurer appointees, creating a public-sector oversight structure distinct from typical single-family offices.

## Sectors

- Real Estate
- Venture Capital

## People

- Paul Denning — President of the RHCTF Board
- David C. Salem — Vice President of the RHCTF Board
- Al Casciato — Board Member
- Katharine Petrucione — Board Member
- Pauline A. Marx — Board Member

## Questions

### Who runs investment decisions at the San Francisco City & County Retiree Health Care Trust Fund?

Paul Denning serves as board president. David C. Salem acts as vice president. The board includes three additional members appointed or elected under city charter provisions.

### How is the fund related to the San Francisco Employees' Retirement System?

SFERS supplies administrative, custody and investment support. The relationship is described as a business partnership in the research record.

### What asset classes appear in the portfolio?

Holdings include U.S. commercial real-estate trusts and a global real-estate fund. Strategy references also list venture capital and macro exposures.

### Does the fund maintain sub-trusts for other employers?

Yes. The San Francisco Community College District maintains a dedicated sub-trust within the RHCTF.

### Where does the fund hold real-estate exposure?

Positions are recorded in AEW Core Property Trust and TA Core Property Trust in the United States plus Sculptor Real Estate Fund V globally.

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- [Washington State University](https://altss.com/profile/washington-state-university-wsu)
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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/san-francisco-city-county-retiree-health-care-trust-fund-rhctf

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology