The $4.2 billion Kern County Employees’ Retirement Association (KCERA) in California made some new moves within its non-traditional investment portfolio.
Last month, trustees approved a $20 million commitment to the DB Investors Fund IV, a hedge fund managed by New York-based Braham Capital founded in 1989 by Mitchell Kuflik and Robert Sobel.
This allocation was within the pension’s opportunistic portfolio that has a maximum target allocation of 10% of total assets, which is the same asset target as the hedge fund portfolio.
Trustees also approved consultant Albourne’s selecting . . .
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