New Mexico Educational Retirement Board, Santa Fe, committed a total of $150 million to three alternative investment managers, said Bob Jacksha, CIO of the $13.7 billion pension fund, in an email.
The board's investment committee committed $50 million each to Tenex Capital Partners III, a middle-market buyout fund managed by Tenex Capital Management; Prostar Energy Infrastructure Fund II, an energy infrastructure fund run by Prostar Capital; and Crow Holdings Realty Partners IX, a domestic value-added real estate fund managed by Crow Holdings Capital.
New Mexico Educational also hired NEPC, its general investment consultant, as its lead private equity consultant. Pension fund officials did not issue an RFP. NEPC had been the pension fund’s private equity consultant in the past. Incumbent Top Tier Consulting continues to serve as the pension fund’s venture capital consultant. The board has a 15% target private equity allocation, with 8.5% of private equity targeted for venture capital.