Santa Barbara County (Calif.) Employees' Retirement System disclosed new real estate and private equity commitments totaling $45 million.
ORG Portfolio Management, the $4 billion pension fund's discretionary real estate consultant, disclosed a commitment of $25 million to Longpoint Specialty Grocer Fund I, a core real estate fund managed by Longpoint Realty Partners.
The pension fund previously committed $16 million to Longpoint Realty Fund I in 2018.
As of July 31, the pension fund's actual allocation to real estate was 10.5%; the target is 10%.
Hamilton Lane, the pension fund's discretionary private equity and real return consultant, disclosed commitments of $10 million each to Eighth Cinven Fund, a European buyout fund, and TCV XII, a growth equity fund managed by Technology Crossover Ventures.
The pension fund previously committed $9 million to Seventh Cinven Fund in 2019 and $10 million to TCV XI in 2020.
As of July 31, the pension fund's actual allocation to private equity was 13.8%; the target is 10%.
The commitments were disclosed in activity reports included with materials for the pension fund's upcoming Aug. 24 board meeting.
