New Mexico Public Employees Retirement Association, Santa Fe, hired Meketa Investment Group as the consultant for its $500 million deferred compensation plan, said Jonathan Grabel, chief investment officer for the $14.6 billion pension fund.
Meketa replaces incumbent Mercer, whose contract will expire at the end of September. New Mexico PERA issued an RFP on May 1.
Separately, the pension board rehired Principal Global Investors following an RFI launched May 4. Principal manages a $170 million active small-cap international equity portfolio. Its contract was set to expire at the end of September. General investment consultant Wilshire Associates assisted.