Kern County Employees' Retirement Association

Kern County Employees' Retirement Association

Kern County Employees' Retirement Association was established in 1945 to administer benefits for county public employees. Dominic D. Brown holds the chief executive officer role while Daryn Miller serves as chief investment officer. The plan sponsor is the County of Kern with additional participating employers that include the Kern County Hospital Authority and Kern County Superior Court. The portfolio holds allocations across private equity, real estate and hedge funds. Confirmed commitments include Singerman Real Estate Opportunity Fund V, Beach Point Capital Real Estate Debt Fund, Pantheon VII, Vista Foundation Fund IV and OrbiMed Private Investments X. Geographic exposure reaches North America, Europe and global markets through these vehicles. Direct public equity positions include Energy Transfer LP, MPLX LP and Targa Resources Corp. A separate commodities sleeve targets global exposures. The organization employs 27 professionals and maintains its headquarters at 11125 River Run Boulevard in Bakersfield. Service providers include Verus Investments as general investment consultant, Albourne America LLC for alternatives, Segal Consulting as actuary and Northern Trust as master custodian. August 2024: The Board of Retirement held a meeting that reviewed investment performance and actuarial assumptions. Additional board meetings occur monthly. The fund operates under the 1937 Act county retirement system framework with a board composed of elected and appointed members. This structure places investment oversight with the board while day-to-day administration rests with the CEO and CIO. Memberships include the State Association of County Retirement Systems and the California Association of Public Retirement Systems.