New Mexico Educational Retirement Board, Santa Fe, committed $100 million to Riverstone Holdings, said Bob Jacksha, chief investment officer of the $13 billion pension fund, in an email.
Some $75 million of the commitment could potentially go to Riverstone Credit Partners II, with the remaining $25 million invested in a Riverstone co-investment sidecar vehicle, depending on the opportunities that arise, Mr. Jacksha said. The funds would make credit investments in the energy sector, including exploration and production, pipelines and other transportation, and storage.
Riverstone is a new relationship. NEPC, the pension fund's general investment consultant, assisted.
Separately, at the board's Oct. 19 meeting, it approved removing the Sudan divestment language from its investment policy. The investment policy had prohibited the board from making direct investments in the securities of companies that did business in Sudan. Staff had recommended the removal in light of the U.S. Department of the Treasury’s revocation effective Oct. 12, 2017, of certain sanctions restricting transactions with Sudan, and other pension plans that have halted their Sudan divestment policies.