Kern County Employees' Retirement Association, Bakersfield, Calif., made three new commitments totaling $70 million, said Daryn Miller, chief investment officer
The $4.2 billion pension fund committed $25 million each to an undisclosed private markets fund managed by Fortress Investment Group and Vista Foundation Fund IV, a small-cap buyout fund managed by Vista Equity Partners, and $20 million to Blue Torch Credit Opportunities Fund II, a direct lending fund managed by Blue Torch Capital.
As of April 30, the actual allocations to private credit and private equity were 4.6% and 1.5%, respectively; the targets for both asset classes is 5%.
Private markets consultant Cambridge Associates assisted.
Mr. Miller could not be immediately reached for further information.
