New Mexico Public Employees Retirement Association, Santa Fe, launched an RFP for an emerging markets debt manager to run a $150 million to $200 million portfolio, the RFP shows.
The $14.7 billion pension fund is searching for a manager as part of a new strategic asset allocation that includes a new 5% allocation to fixed-income plus, which includes emerging markets debt.
Funding is expected to come from the pension fund’s $4.5 billion domestic equity portfolio.
The RFP is available on New Mexico PERA’s website. Proposals are due Nov. 5, with a selection to be made on or before the board’s Feb. 26 meeting. The pension fund’s general investment consultant, Wilshire Associates, is assisting.
Separately, the pension fund board is scheduled at its Thursday board meeting to determine whether to place Pacific Investment Management Co. on watch. New Mexico has $723 million invested in a PIMCO core-plus fixed-income strategy as of Sept. 30, investment information on the pension fund’s website shows.
The board is also expected to decide whether to commit up to $60 million to private equity firm Garrison Investment Group’s distressed debt fund Garrison Opportunity Fund IV.
Jonathan Grabel, New Mexico PERA’s chief investment officer, could not be reached by press time for more information.