New Mexico Public Employees Retirement Association, Santa Fe, committed $60 million to Garrison Opportunity Fund IV, a distressed debt private equity-style fund, said Jonathan Grabel, chief investment officer of the $14.4 billion pension fund.
It is New Mexico’s first investment with Garrison Investment Group.
Separately, the pension fund placed PIMCO on watch for organizational issues. New Mexico PERA has $723 million invested in PIMCO’s Total Return Fund.
New Mexico PERA officials also expanded the pension fund’s investment-related search policy to include database searches, in addition to the current RFP process.