New Mexico Educational Retirement Board's investment committee on Thursday approved a $50 million commitment to private equity fund Apollo Investment Fund VIII, said Bob Jacksha, chief investment officer for the $10.4 billion Santa Fe-based pension fund, in an e-mail.
The pension fund is already an investor with Apollo Global Management's Apollo Investment Fund VII.
Separately, the investment committee extended Western Asset Management Co.'s contract to manage $319 million in core fixed income until Feb. 28. Pension fund executives plan to hire staff and move management of core fixed income in-house, Mr. Jacksha wrote. The core fixed-income portfolio has $1.2 billion in assets.