The board of Kern County Employees' Retirement Association, Bakersfield, Calif., board approved a commitment of up to $25 million to Magnetar Structured Solutions Fund, a credit fund managed by Magnetar Capital, as part of the pension fund’s private credit portfolio.
The approval was made at the Sept. 11 board meeting, confirmed Daryn Miller, chief investment officer of KCERA.
As of July 31, 2024, the $5.93 billion pension fund had a 5.9% actual allocation to private credit (8% target).
KCERA previously made a $60 million commitment to Magnetar Constellation Fund V in 2022.
