Updated with correction
New Mexico Educational Retirement Board, Santa Fe, committed or invested a combined $250 million to private equity and credit strategies, said Bob Jacksha, CIO of the $13.6 billion pension fund, in an email.
The board at its meeting Thursday committed $150 million in PIMCO Corporate Opportunities Fund III, an opportunistic credit strategy, managed by Pacific Investment Management Co.
The board's opportunistic credit target allocation is 16%.
The board also invested $100 million to a private equity separate account managed by BlackRock that primarily makes co-investments but can also invest in secondary positions.
The board's private equity target allocation is 15%.
It has invested with both managers in the past.
Separately, pension fund officials extended its contract for the BlackRock Aladdin system to help manage its $800 million core bond portfolio. BlackRock's contract was extended for three years until February 2023.