Institutional Investors

Kern County interviewing consultants for direct allocation


The $2.8 billion Kern County Employees’ Employees Retirement Association is considering the merits of a direct hedge fund allocation to hedge funds versus a fund of hedge funds allocation, according to Anne Holdren, executive director of the retirement system.

This week due diligence meetings have been taking place with Albourne America and Aksia. At the board’s April meeting trustees are likely to decide whether or not to add a specialist hedge fund consultant. Working on the project is general investment consultant Wurts & Associates and chief investment officer Peter Tirp.

Trustees approved increasing the absolute strategy allocation to