Santa Barbara’s PE portfolio in five charts

The $3bn fund is increasing its private equity activity after raising its target allocation to 10% from 7% in 2016.

Santa Barbara County Employees’ Retirement System may not be as well known as California Public Employees’ Retirement System and California State Teachers’ Retirement System, but the $3 billion fund is on its way.

The pension is in the midst of ramping up its private equity activity after increasing its target allocation to 10 percent from 7 percent in 2016.

SBCERS had an 8.5 percent exposure to private equity as of 31 March and its portfolio is valued at $253.8 million, according to a Q1 Hamilton Lane document prepared for the pension.

The PE portfolio outperformed its public benchmark by 43 basis points and all PE benchmark by 263 bps since inception in 2006. Its returns are driven by strong performances in growth equity and direct secondaries.

Here’s how the overall portfolio shapes up: