New Mexico Educational Retirement Board, Santa Fe, hired Caledon as infrastructure consultant and also extended the contract of general consultant NEPC, said Bob Jacksha, the board’s chief investment officer.
The $9.5 billion fund had issued an RFP in March for an infrastructure consultant. Courtland Partners, the previous infrastructure consultant, was allowed to rebid.
NEPC’s contract, set to expire Sept. 30, was extended for two years.
Mr. Jacksha also said officials are winding down their securities lending program, allowing the contract of agent ClearLend to expire in September.
“We decided our limited staff resources could be more profitably directed to other areas,” Mr. Jacksha wrote in an e-mail. “Also, the board had expressed some misgivings after we experienced a loss a couple of years ago.”
The board also will commit $75 million in Citigroup Emerging Market Structured Opportunity hedge fund, Mr. Jacksha said.