New Mexico PERA Allocates $250M to Private Markets

The Public Employees’ Retirement Association of New Mexico approved three private market commitments totalling $250M at its annual board meeting in September, according to recently published meeting materials.

The pension allocated $100M to the opportunistic multi-strategy credit fund The Kawa Fund. An addition to New Mexico PERA’s absolute return portfolio, the fund is focused on providing consistent absolute returns via trading and structuring unique credit opportunities.

New Mexico also allocated $100M to Stone Point Capital’s Trident X, an illiquid private equity fund focused on large-cap buyouts. The fund targets control and substantial minority investments in North American and Western European companies operating within the financial services sector. An additional $50M co-investment was allocated to NMPERA Turquoise Co-Invest, an evergreen private equity co-investment vehicle.

According to Dakota data, the pension fund has $17.1B in managed assets.

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