Santa Barbara County (Calif.) Employees' Retirement System disclosed new private equity and private real return commitments totaling $50 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 May 24 meeting.
The commitments, completed between Feb. 17 and May 5, were $10 million each to European buyout fund CVC Capital Partners IX; DigitalBridge Partners III, an infrastructure fund managed by DigitalBridge Group; infrastructure fund Global Infrastructure Partners V; large-cap buyout fund Hellman & Friedman Capital Partners XI; and North American middle-market infrastructure fund Stonepeak Opportunities Fund, according to the presentation.
SBCERS previously committed $10 million to CVC Capital Partners VIII in 2021, $15 million to DigitalBridge Partners II in 2020, $15 million to Global Infrastructure Partners IV in 2019, $10 million to Hellman & Friedman Capital Partners X in 2021 and $15 million to Stonepeak Infrastructure Fund IV in 2020.
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%.
