Santa Barbara County ERS Commits $40M to Alternatives
Written by: Morgan Holycross, Marketing Manager
At the February 28 Meeting, the Santa Barbara County Employees’ Retirement System approved commitments totaling $40 million to alternatives.
$10 million was committed to Lone Star Real Estate Fund VII.
In real assets, $10 million was committed to Tiverton AgriFinance, a natural resources focused fund, and $10 million was committed to HitecVision New Energy Fund II, an infrastructure strategy.
Within private equity, $10 million was committed to Platinum Equity Small Cap Fund II, a private equity fund focused on buyouts.
Investment consultant consultant Hamilton Lane assisted with the commitments.
As of December 31, 2023, the $4.24 billion Retirement System has a target allocation to real estate of 10% and actual allocation of 10.9%. The target allocation for private equity is 10% and actual allocation of 13.5%. And the Real Return composite had 14.1% of the total fund’s allocation with a target of 15%.
For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!
