Kern County Investing $115M to Alts
Written by: Jane Bailey, Marketing Associate
According to meeting materials from the February 14th board meeting, the Kern County Employees’ Retirement Association is planning to commit $115 million across two alternative investments.
In private equity, $50 million was recommended for Juniper Capital. Private Equity Consultant, Cambridge Associates, assisted with the recommendation.
Additionally, $65 million was recommended for Elliott Associates L.P. fund. Hedge Fund Consultant, Albourne, recommended this commitment.
As of January 31, 2024, the $5.2 billion Retirement Fund allocates 3.9% to private equity with a target allocation of 5%. Additionally, 10.2% of the fund is allocated to hedge funds with a target allocation of 10%.
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