New Mexico Public Employees Retirement Association, Santa Fe, could search for three active equity managers, one each for smidcap growth and value and one for large-cap growth, said Joelle Mevi, deputy director of investments for the $10.5 billion association.
All would be new allocations for the fund; 8% of total assets would go to smidcap value, 4% to smidcap growth, and an undetermined amount to large-cap value.
The association's board is scheduled to vote on the recommendations, made by its investment committee, at the board's Feb. 25 meeting.
Investment consultant R.V. Kuhns is assisting. If approved, the RFPs would be available on the association website, http://www.pera.state.nm.us.
Separately, the board is expected to decide on Feb. 25 whether to adopt a budget for its private asset commitments. If adopted, the association this year would commit $100 million to private equity, $45 million to real assets and $50 million to real estate funds.