Searches and Hires

Kern County Employees eyes first private markets consultant

Kern County Employees' Retirement Association, Bakersfield, Calif., is searching for its first private markets consultant, said Daryn Miller, chief investment officer, in an email.

The $4.2 billion pension fund issued an RFP for a consultant to advise the pension fund on its private credit, private equity and private real assets portfolios. The target allocation for each asset class is 5%.

Mr. Miller said the hiring of a consultant will begin the launch of a new private equity program in which the primary aim will be direct contracts with general partners; KCERA has traditionally invested with private equity funds of funds in the past.

The RFP is available on KCERA's website. Proposals are due at 2 p.m. PDT on May 8. A timeline for a decision has yet to be determined.