KCERA outlines 2024 pacing plan

Institution: Kern County Employees Retirement Association
Headquarters: Bakersfield, US
AUM: $5.32 billion
Allocation to Private equity: 4%

Kern County Employees Retirement Association has released its 2024 private equity commitment pacing plan with $120 million planned for 2024.

The pension said $90 million is expected to be committed to buyouts and $30 million to growth equity and venture capital. Proposed commitment sizes are  $30 million-$50 million to buyouts, $30 million-$35 million to growth equity and $6 million-$10 million to venture capital.

Its 2024 private equity priorities/potential areas of focus would be buyout re-ups, international buyout exposure and early-stage/sector-focused venture capital.

It will target 50-70 percent of its PE allocation at buyouts and 20-40 percent at growth equity and venture capital.

The pension’s recent commitments have predominantly focused on North America.

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