New Mexico Educational Retirement Board, Santa Fe, committed a total of up to $90 million to three alternative investment funds at its Jan. 19 meeting, said Bob Jacksha, chief investment officer for the $11.7 billion pension fund, in an email.
The board at its Jan. 19 meeting committed a total of up to $60 million to private equity funds Marlin Equity V and Marlin Heritage Fund II managed by Marlin Equity Partners. The actual commitment to each fund has yet to be determined. Both funds are oversubscribed. Marline Equity V will make special-situation, event-driven investments in middle-market companies; Marlin Heritage Fund II will make special-situation investments in lower-middle-market companies. The pension fund also is an investor in Marlin Equity IV.
Separately, the board committed $30 million to Hammes Partners III, a health-care real estate fund managed by Hammes Partners. The pension fund also is an investor in Hammes Partners II.