New Mexico Educational Retirement Board, Santa Fe, on Nov. 6 committed $300 million to two alternative investment funds, said Bob Jacksha, CIO of the $13.3 billion pension fund, in an email.
The board committed $150 million to AE Industrial Aerospace Aggregator fund managed by AE Industrial Partners, a private equity firm specializing in aerospace, defense and government services, power generation and specialty industrial markets. Pension officials have invested with AE Industrial Partners in the past. The board's infrastructure consultant CBRE Caledon Capital Management assisted.
The board committed another $150 million to Cloverlay co-investment separately managed account, managed by Cloverlay, a manager that focuses on small, inefficient transactions outside the scope of traditional private equity. Cloverlay is a new relationship. The pension fund's general investment consultant NEPC assisted.
Separately, the board extended CBRE Caledon Capital Managements infrastructure consulting contract for four years.