Santa Barbara County (Calif.) Employees' Retirement System will launch a search for a discretionary private equity consultant next week, said Lauren E. Thompson, assistant CEO, in an email.
The $3.2 billion pension fund will issue an RFP because it has not put the services up for bid since 2007; current consultant Hamilton Lane is invited to rebid.
As of June 30, the pension fund's actual allocation to private equity was 9.9%; the target is 10%.
The RFP will be posted sometime in the next week on the pension fund's website. The proposal due date and specific timeline information is not yet available, but Ms. Thompson said the goal is to have a selection made within the next three to four months.