Institutional Investors

Kern County debates direct versus FoHFs


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

Due diligence meetings have taken place with Albourne America and Aksia last month. At the board’s April meeting, trustees are likely to decide whether or not to add a specialist hedge fund consultant and whether the portfolio will be both FoHFs and/or single-manager hedge funds. Working on the project is general investment consultant Wurts & Associates