New Mexico ERB Commits $585M to Alts

The New Mexico Educational Retirement Board disclosed seven recent commitments to alternatives totaling $585 million, according to Board of Trustees Meeting Minutes.

In private equity, $75 million was allocated to Banner Ridge Secondary Fund V and $20 million to Ballast Equity Partners Fund I, with an additional $10 million committed to a sidecar co-investment, and $80 million was allocated to Five Point Water Management and Sustainable Infrastructure Fund IV, an energy focused fund.

In real estate, $100 million was allocated to Kildare Partners IV, $100 million to Edgewood Fund IV, managed by Hamilton Lane, and $50 million to Ram Special Opportunities Fund.

In private credit, $150 million was allocated to Sixth Street TAO.

As of June 30, 2023, the $16 billion pension fund has allocated approximately 51.4% to alternative asset classes with a target allocation of 47%. With 22.2% of that being in private equity with a target allocation of 17%. And approximately 9.7% being in real estate with a target of 8%.

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