New Mexico Educational Retirement Board, Santa Fe, committed a total of $250 million to two opportunistic credit funds, said Bob Jacksha, chief investment officer for the $10.7 billion pension fund, in an e-mail.
The board committed $150 million to Orchard Global Asset Management's opportunistic credit Black Forest fund and $100 million to Lone Star Funds' real estate credit fund, Lone Star Fund IX.
New Mexico Educational committed to a prior Orchard fund. The board also made commitments to two prior Lone Star funds.
