Santa Barbara County (Calif.) Employees' Retirement System disclosed new private equity, real estate and real-return commitments totaling $40 million.
Hamilton Lane, the $4.5 billion pension fund's discretionary private equity, real estate and real-return consultant, disclosed the commitments in presentations included with materials for its upcoming Feb. 26 board meeting.
The commitments, completed between Dec. 16 and Dec. 20, were $10 million each to ABR Chesapeake Fund VII, a value-added real estate fund managed by ABR Capital Partners; middle-market buyout fund GTCR Strategic Growth Fund II; middle-market buyout fund Integrum Capital Partners II; and Sustainable Assets Fund IV, an infrastructure fund managed by Vision Ridge Partners.
Also in the presentations, Hamilton Lane disclosed plans in 2025 to commit between $45 million and $75 million to each private asset class, targeting commitments of between $5 million and $15 million each to five to seven funds.
As of Oct. 31, the pension fund’s actual allocations to real return, private equity and real estate were 14.4%, 12.9% and 10.3%, respectively; their respective targets are 15%, 10% and 10%.
