New Mexico Educational Retirement Board, Santa Fe, committed a total of $555 million to alternative investments.
The pension fund committed $150 million investment to Sixth Street TAO, a global multiasset-class fund managed by Sixth Street Partners that invests in special situations, middle-market direct lending and distressed credit lending, board documents show.
NMERB also committed $100 million to Edgewood Partners, a real estate co-investment and secondary market fund managed by Hamilton Lane and $100 million to Kildare Partners IV, a distressed real estate fund investing in the U.S. and Europe.
The board committed another $80 million to Five Point Water Management and Sustainable Infrastructure Fund IV, an opportunistic infrastructure fund investing in midstream infrastructure companies managed by private equity firm Five Point Energy; $75 million to Banner Ridge Secondary Fund V, a secondary private equity market fund managed by Banner Ridge Partners; and $50 million to Ram Special Opportunities Fund, a debt-focused real estate fund.
Separately, NMERB extended the contract of general investment consultant NEPC until Sept. 30, 2025, when the $16 billion pension fund will need to launch a search.
NEPC has been the fund's general investment consultant since 2005, and had one two-year extension remaining on its contract, board minutes showed.