New Mexico Public Employees Retirement Association, Santa Fe, allocated a total of $240 million to five alternative investment strategies, a report to the investment committee of the $14.3 billion pension fund shows.
New Mexico PERA committed $75 million to Resolute Fund V, a buyout fund managed by the Jordan Co. Pension fund officials invested $50 million each in two hedge funds: Marshall Wace's multistrategy equity long/short fund and Garda Capital Partners' fixed-income relative value fund.
The pension plan also committed $45 million to middle-market buyout fund Tenex Capital Partners III and $20 million to NMPERA White Sands Tenex Co-Invest, a co-investment, both managed by Tenex Capital Management.
New Mexico PERA also terminated MacKay Shields' $202 million domestic fixed-income strategy and put the money in a BlackRock passively managed domestic core bond mandate.
