New Mexico Public Employees Retirement Association, Santa Fe, hired Albourne Partners and TorreyCove Capital Partners to serve as its alternative investment consultants, said Jonathan Grabel, chief investment officer for the $14.2 billion pension fund.
Albourne is the pension fund's consultant for real assets and hedge funds, except credit-oriented hedge funds. TorreyCove is the consultant for illiquid credit and credit-oriented hedge funds.
New Mexico PERA's board hired the two firms at its Dec. 29 meeting following an RFP launched in June. They replace Cliffwater. The pension fund has a 20% target allocation to real assets and a 15% credit allocation.