The board of Kern County Employees' Retirement Association, Bakersfield, Calif., approved $90 million in new commitments at its August 9 meeting, CIO Daryn Miller confirmed by email on Thursday.
Specifically, KCERA approved $30 million to Silver Point Specialty Credit Fund III, a credit special situations fund managed by Silver Point Capital; $30 million to Ares Pathfinder Fund II, a credit special situations fund managed by Ares Management; and $30 million to Hudson Bay Special Opportunities Fund. Hudson Bay Special Opportunities Fund is an opportunistic fund managed by Hudson Bay Capital Management, Mr. Miller said,
These were all new fund commitments for KCERA, he added.
KCERA had about $5.3 billion in assets as of June 30.