New Mexico Educational Retirement board, Santa Fe, committed a total of $200 million to six alternative investment funds, said Bob Jacksha, chief investment officer for the $12.8 billion pension fund, in an email.
The investment committee at its March 22 meeting committed $100 million to a separate account managed by Aberdeen Standard Investments to invest in new European private equity funds, co-investments and investments in private equity secondary markets. This is a new relationship for the board.
The pension fund also committed $60 million to AE Industrial Partners Fund II, a private equity fund investing in the aerospace, power generation and specialty industrial sectors; $40 million to Ram Realty Partners V, a real estate fund managed by Ram Realty Services; and $30 million to Sares-Regis Multifamily Value-Add Fund III, a multifamily real estate fund managed by Sares-Regis Group. The pension fund has invested with all of the managers in the past.
In addition, the pension fund made follow-on commitments of $50 million to Taiga Special Opportunities DAC fund, a private equity fund managed by Orchard Global Asset Management, bringing its total commitment to $200 million; and $20 million to Five Point Midstream Fund III, a private equity natural resources fund managed by Five Point Capital Partners. The board had made an initial $40 million commitment to the fund in June.