New Mexico Public Employees Retirement Association's investment committee endorsed the idea of adding alternative investments, said Robert Gish, CIO of the $11.2 billion system. Consultant Callan Associates is scheduled to present a report to the Santa Fe-based association March 14 on a long-term asset allocation strategy and how alternative investments — including real estate, private equity, hedge funds and portable alpha — fit into the efficient frontier. Any ultimate decision will need to be approved by the board.
Separately, the board is expected to select a new general consultant in late March. The contract of incumbent Callan is set to expire June 30; the firm was invited to rebid. The board may also select an alternative investment consultant by the end of September and a specialized consultant by end of December. The association has only had a general consultant in the past.