Kern County Employees' Retirement Association, Bakersfield, Calif., approved commitments totaling up to $115 million at the Feb. 14 board meeting, confirmed Daryn Miller, chief investment officer.
Specifically, the board approved a commitment of up to $50 million to private equity firm Juniper Capital Investment Management and up to $65 million for hedge fund Elliott Associates.
Juniper invests in growth-stage companies through buyouts.
As of Nov. 30, the $5.4 billion pension fund had an actual 10.3% allocation to hedge funds (10% target) and a 3.9% actual allocation to private equity (5% target).
