Kern County Employees’ Retirement Association, Bakersfield, Calif., made three new commitments totaling $185 million, said Peter Tirp, chief investment officer.
The $3.7 billion pension fund committed $75 million to a defensive fixed-income fund managed by TCW Group. He did not have further information on the fund name.
The pension fund also committed $60 million to Colony Distressed Credit & Special Situations Fund IV, an opportunistic real estate fund focused on European commercial real estate loans, managed by Colony Capital.
Also, the pension fund committed $50 million to Invesco U.S. Value-Add Fund IV, a real estate fund managed by Invesco Real Estate. The pension fund previously committed $60 million to Invesco U.S. Value-Add Fund III in May 2013.
Investment consultant Verus assisted.
