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Kern County hires 2 for small-cap equities, adds hedge fund

by trusted insight posted 4years ago 350 views
Kern County Employees’ Retirement Association, Bakersfield, Calif., hired AllianceBernstein (AB) and Geneva Capital Management to run $65 million each in active domestic small-cap equities, said Peter Tirp, chief investment officer to Pensions & Investments. 

The $3.7 billion pension fund’s board approved at its June 10 meeting the investment committee’s earlier recommendations to hire AllianceBernstein to run a value portfolio and Geneva Capital, a growth portfolio.

Separately, the board approved the investment committee’s recommendation to make a $17 million direct investment in a credit-focused distressed hedge fund managed by River Birch Capital.

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