Santa Barbara County (Calif.) Employees’ Retirement System has issued an RFP for discretionary private equity and private real-return consultants.
The $4 billion pension fund is conducting the search based on the recommendation of investment staff.
Hamilton Lane has been the discretionary private equity consultant for SBCERS since September 2006 and the discretionary private real-return consultant since August 2014. Rebecca Valdez, SBCERS investments officer, said the firm is invited to rebid.
The SBCERS private real-return allocation consists of investments in private infrastructure and private natural resources.
As of Sept. 30, the actual allocations to private equity and private real return were 12.8% and 11.5%, respectively; their respective targets are 10% and 11.25%.
The RFP is available on SBCERS’ website. Proposals are due by 5 p.m. PDT on April 4. Finalist presentations are tentatively scheduled for Aug. 27, with a selection to be made shortly thereafter.
