Santa Barbara County ERS Allocates $40M to Four Alts Strategies

The Santa Barbara County Employees’ Retirement System (ERS) made a total of $40M in commitments across four funds in private equity, real estate, private infrastructure, and venture capital.

Commitment activity tables from the pension’s December 11 meeting materials showed that it allocated $10M each to Summit Partners Growth Equity Fund XII, Grandview III, ICG Infrastructure Fund II, and Hamilton Lane Venture Access Fund. The deals were closed in September and October.

Santa Barbara County is targeting $10M allocations per individual investment to seven funds for its private equity and private real return policies, and to six funds for its private real estate policy. Each portfolio is expected to close another allocation by mid-December. After the pending December deals, a final $10M position will remain unallocated in the pension’s private equity portfolio, for which a target close date is yet to be set.