New Mexico Educational Retirement Board, Santa Fe, committed $100 million to Cross Ocean Partners European Special Situations Fund II, a credit fund, said Bob Jacksha, chief investment officer of the $12 billion pension fund, in an email.
Cross Ocean’s fund is expected to invest in illiquid senior secured debt from European banks who are generally forced sellers under new regulatory rules, Mr. Jacksha wrote. This is a new relationship.
Separately, pension fund officials are issuing RFI for a real estate investment trust manager. The search will be invitation only. Brookfield Asset Management is the incumbent and manages a $250 million portfolio. Brookfield will be invited to bid. No set date has been set for a selection but a decision could be made as early as June.