SBCERS to commit $40m annually to private debt funds

The US public pension aims to meet private debt target allocation by 2024.

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Institution: Santa Barbara County Employees’ Retirement System
Headquarters: Santa Barbara, United States
AUM: $2.94bn
Allocation to alternatives: 37.10%
Bitesize: $10-50m

Santa Barbara County Employees’ Retirement System approved a recommendation to make annual commitments of up to $40 million, as mentioned during the institution’s March 2020 Retirement Board meeting. The public pension is aiming to meet its target allocation of 3.67 percent by 2024 and is currently considering a commitment to KKR Dislocation Opportunities Fund.

The $3.22 billion US public pension currently allocates 1.21 percent of its investment portfolio to private debt.

As illustrated below, SBCERS’ recent private debt commitments have focused on the corporate sector within North America.

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