New Mexico Educational Retirement Board, Santa Fe, made $115 million in commitments to alternative investment funds, said Bob Jacksha, chief investment officer of the $11.2 billion pension fund.
The pension fund’s investment committee committed $50 million to real estate money management firm Siguler Guff & Co. for a separate account; $35 million to Rockpoint Real Estate Fund V, managed by the Rockpoint Group; and $30 million to natural resources fund Water Property Investors, managed by Water Asset Management. The pension fund has invested with Rockpoint Group’s fourth fund but is investing with Siguler Guff and Water Asset Management for the first time, Mr. Jacksha said.
Separately, the pension fund’s net return for the year ended Sept. 30 was 10.8%. For the five years ended Sept. 30, the fund returned an annualized 9.9% and for 10 years, an annualized 7.3%, Mr. Jacksha said.
The best-performing asset class for the quarter was private equity at 5.7% and the worst was non-U.S. developed markets equity, -5.8%.
Further information was unavailable by press time.