New Mexico PERA boosts alpha-seeking, real assets allocations
By Arleen Jacobius | October 31, 2012 4:07 pm
New Mexico Public Employees Retirement Association, Santa Fe, has added a 5% liquid alpha allocation and increased U.S. equity and real assets by two percentage points each to 29% and 5%, respectively, said Joelle Mevi, chief investment officer for the $12.1 billion pension fund.
No searches are planned until early 2013 at the earliest, Ms. Mevi said in an interview.
Funding came from decreasing non-U.S. equity by seven percentage points, to 20%, and hedge funds by two percentage points, to 7%, Ms. Mevi wrote in an e-mail.
Separately, the board approved a $30 million commitment to EnCap IX, a private energy partnership run by Encap Investments for the pension fund's real assets portfolio.