Insight

SBCERS renews with Hamilton Lane as PE consultant

The US public pension extends its relationship with investment consultant.

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Institution: Santa Barbara County Employees’ Retirement System
Headquarters: Santa Barbara, US
AUM: $3.58 billion
Allocation to alternatives: 25.19%

Santa Barbara County Employees’ Retirement System has approved Hamilton Lane as its discretionary consultant to manage its private equity allocation, as mentioned during the pension’s January 2021 retirement board meeting. The contract renewal is for an additional five-year term.

The pension issued an request for proposal in July 2020 for private equity consulting services, as previously reported by sister publication Private Equity International. Seven firms responded to the RFP.

As illustrated below, SBCERS currently allocates 10.3 percent of its investment portfolio to private equity. As of December 31, 2020, the value of its private equity portfolio was approximately $367 million. The pension’s chief executive officer is Greg Levin.

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