Kern County Employees' Retirement Association, Bakersfield, Calif., committed $50 million to $60 million to H.I.G. Bayside Loan Opportunities Fund V, a special situations credit fund managed by H.I.G. Capital, said Dominic Brown, acting executive director, in an email.
The $4 billion pension fund is allocating the commitment into its hedge fund portfolio. The current hedge fund allocation is 10%, Mr. Brown said.
Private markets consultant Albourne America assisted.