New Mexico Educational Retirement Board, Santa Fe, committed a total of $430 million to eight alternative investment vehicles, said Bob Jacksha, CIO for the $14.5 billion pension fund, in an email.
The board committed $100 million to Banner Ridge Secondary Fund IV, a private equity fund investing on the secondary markets managed by Banner Ridge Partners. It also committed $60 million each to BlackRock tactical opportunities fund, a private equity separately managed account-type vehicle; Edison X, a growth equity fund managed by Edison Partners; and NovaQuest II, a middle-market life science and health-care fund managed by NovaQuest Capital Management.
New Mexico ERB committed $50 million each to Industry Ventures Partnership Holdings VI, a venture capital fund-of-funds; and Kildare European Partners III, a real estate fund managed by managed by Kildare Partners. The board also committed $40 million to new private equity firm Arctos Sports Partners' first fund, Arctos Sports Partners Fund I, which invests in minority ownership of sports franchises. The board also committed another $10 million to Lightyear Fund V, managed by Lightyear Capital. The pension fund made an initial $50 million commitment to the buyout fund in August.
Separately, the board extended for four years the contracts of its real estate and natural resources consultant, Hamilton Lane, until June 2024 and its natural resources master limited partnership manager, Blackstone Group's Harvest MLP, until May 2024, Mr. Jacksha said. The board also voted to extend for another four years two open-end opportunistic credit strategies: a fund of one managed by GoldenTree Asset Management and One Williams Street Opportunity Fund.