Santa Barbara County (Calif.) Employees' Retirement System disclosed new private equity and real return commitments totaling $50 million.
Hamilton Lane, the $4.1 billion pension fund's discretionary private markets and real return consultant, disclosed commitments of $15 million each to natural resources fund Blue Road Capital II, an agriculture fund managed by Blue Road Management, and North American and European middle-market infrastructure fund Tiger Infrastructure Partners III; and $10 million each to mega-buyout funds Advent International GPE X and Platinum Equity Capital Partners VI. The commitments were in an activity report included with materials for the pension fund's upcoming May 25 board meeting.
Hamilton Lane completed the real return commitments on behalf of the pension fund on March 4 and March 22, respectively; both are SBCERS' first commitments to those managers. The consultant completed the private equity commitments on April 28 and April 22, respectively; SBCERS previously committed $10 million each to Advent International GPE IX and Platinum Equity Capital Partners V, both in 2019.
As of March 31, the pension fund's actual allocation to real return was 16.5%; the target is 15%.
Rebecca Valdez, investment officer, could not be immediately reached for further information.
