Kern County Invests $205M in Fixed Income, Distressed Private Credit

The investment committee of Kern County Employees’ Retirement Association (KCERA) is mobilizing a total investment allocation of $205M to fixed income and distressed private credit strategies.

According to recently published materials for its October 9 meeting, the committee is recommending approval of a $180M commitment to fixed income fund KKR US Broadly Syndicated Loan Fund. That follows on the pension’s decision in September to terminate two Western Asset Management fixed income mandates, as previously reported by Dakota.

KCERA also said it closed on a $25M investment with distressed private credit strategy Fortress Credit Opportunities Fund VI on October 1. That investment follows a $25M commitment the pension made to Magnetar Structured Solutions Fund, a structured private credit strategy, in September.

As of August 31, KCERA had an allocation of 6% to private credit against a target weight of 8%, and 15.5% in fixed income against a 25% target.

Written By: Dakota

Related Content

Ohio Public Employees’ Updates Target Asset Allocation Mix
January 27, 2025

Tulare County Updates Allocation Benchmarks, Ups Real Assets, Private Markets
January 21, 2025

LACERA Approves $2.2B in Commitments to Seven Alts Funds
January 03, 2025

San Jose Police & Fire Commits $133.5M to Alts, OKs 25% Private Markets Target
December 12, 2024

Illinois Municipal Invests $250M in Alts, Redeems Wamco Allocation
November 25, 2024

The Database For Cold Outreach to Reach Institutional and RIA Investors

Book A Demo

Kern County Invests $205M in Fixed Income, Distressed Private Credit

Subscribe

Related Content

The Database For Cold Outreach to Reach Institutional and RIA Investors

Address

Products & Services

Resources

Events

Company