New Mexico Public Employees Retirement Association, Santa Fe, will launch a search for an alternatives consultant on Wednesday, said Jonathan Grabel, chief investment officer.
The $14 billion pension fund will issue an RFP by the end of the day on Wednesday for an alternatives consultant as a general market check regarding fees, Mr. Grabel said, and also due to a recent asset allocation change that raised targets to real assets to 20% from 13.3% and credit to 15% from 6.3% He added that the pension fund wants to make sure the services they receive from their consultant are adequate for the increased exposure to those asset classes.
Current consultant Cliffwater is invited to rebid.
Proposals will be due on July 15, with a decision likely sometime in the fourth quarter, Mr. Grabel said.
The RFP will be posted on the pension fund’s website.
Separately, the pension fund committed up to $75 million to DRC Capital European Real Estate Debt Fund III, a real estate debt fund. The pension fund previously committed to Fund II in 2013.
Also, the pension fund committed up to $40 million to ACM Fund II, a natural resources fund managed by ACM Management Co. It is the pension fund’s first commitment to an ACM fund.
