New Mexico Public Employees Retirement Association, Santa Fe, has reissued an RFP for a custody bank because the contract of incumbent BNY Mellon is set to expire on June 30, 2024.
The $16.6 billion pension fund rescinded the RFP in April due to a low response, CIO Michael Shackelford told the board at the time. Responses to the new RFP are due July 31. While a selection date has not yet been set, New Mexico PERA officials intend to make the contract award on or before Dec. 31, subject to satisfactory completion of a due diligence visit, if appropriate, and successful negotiation of a final contract, according to the RFP. The RFP is on the pension fund's website.
Separately, New Mexico PERA committed $200 million to Apollo Defined Return Fund, a credit hedge fund managed by Apollo Global Management, and €100 million ($107 million) to CVC Capital Partners IX.