Santa Barbara County (Calif.) Employees' Retirement System disclosed new private equity and private real return commitments totaling $40 million.
The $4 billion pension fund's discretionary private equity and private real return consultant Hamilton Lane disclosed the commitments in a presentation included with materials for its upcoming Aug. 23 meeting.
The commitments, completed between May 5 and June 30, were $10 million each to Castlelake Aviation V Stable Yield; Kohlberg Investors X, a buyout fund managed by Kohlberg & Co.; KPS Special Situations Fund VI, a buyout fund managed by KPS Capital Partners; and oil and gas fund Quantum Energy Partners VIII, according to the presentation.
SBCERS previously committed $20 million to Castlelake IV Stable Yield, $10 million to Kohlberg Investors IX and $10 million to KPS Special Situations Fund V, all in 2020. Quantum Energy Partners is a new manager for the pension fund.
As of April 30, the pension fund's actual allocations to private real return and private equity were 14.2% and 13.7%, respectively; their respective targets are 15% and 10%.
