New Mexico Educational Retirement Board, Santa Fe, made three alternative investment commitments totaling $155 million, said Bob Jacksha, chief investment officer of the $9.6 billion retirement fund.
The three are $85 million to Caledon Infrastructure Co-investment Fund; $40 million to private equity fund Ares Corporate Opportunities Fund IV; and $30 million to value-added real estate fund Ram Realty Partners III.
Ares Management’s fourth fund is designed to continue to take either majority control or to share control of companies. The real estate fund, managed by Ram Realty Services, is targeting investment in value-added retail and multifamily properties in the Southeast.
Separately, the board made a minor change to its proxy voting policy granting the CIO the ability to decide how to vote when fund policy conflicts with the recommendation of proxy voting service ISS. Before the change, all items were voted according to fund policy, Mr. Jacksha said.