New Mexico Educational Retirement Board, Santa Fe, plans to launch an RFP for a private equity consultant, said Bob Jacksha, chief investment officer of the $10.9 billion pension fund, in an e-mail.
NEPC is the incumbent and will be invited to rebid. NEPC’s contract with the pension fund was extended to Dec. 31 to allow time for the RFP process.
The RFP is expected to be posted by June, and a selection could be made as early as October.
Separately, the investment committee at its April 10 meeting committed $125 million to Kildare Partners’ first fund, an opportunistic credit and real estate fund.
The committee also approved a $60 million increase to Brookfield Asset Management’s approximately $140 million actively managed real estate investment trust portfolio. The new capital would increase the portfolio to about $200 million.
In other action, pension fund officials hired ISS for securities class-action monitoring and filing services. This action does not require investment committee approval because it falls under the “small purchase contract” provisions of the retirement board’s policy, Mr. Jacksha wrote.