New Mexico Public Employees Retirement Association committed $60 million each to real estate fund Starwood Global Opportunity Fund X, managed by Starwood Capital Group, and private equity fund Kelso Investment Associates IX, a middle-market buyout fund managed by Kelso & Co., said Jonathan Grabel, investment director for the $14.6 billion pension fund.
The Santa Fe-based fund made earlier investments with both firms.
Separately, Mr. Grabel reported that the plan had a 17.04% return net of fees for its fiscal year ended June 30, according to preliminary data. The five-year annualized return was 13.1%. The fund returned 13.26% for the prior fiscal year.
The best performing asset class for the fiscal year ended June 30 was domestic equities, at 25.3%; fixed income was the lowest performer at 5.8%.
