New Mexico PERA Commits $305M to Real Estate, PE

The New Mexico Public Employees Retirement Association (PERA) allocated a total of $300M to real estate and another $5M to an evergreen co-investment fund in private equity, according to media materials from its January 30 board meeting.

According to the pension’s CIO report, its investment committee approved a commitment of $250M to Cerberus Global Residential Multi-Strategy Fund, allocated from the rollover of an existing investment in a previous fund plus an additional commitment of approximately $79M as anchor investment. It also approved $50M to IDR Investments’ secondaries portfolio to be rebalanced in its Core Property Index Fund and a follow-on of $5M to the evergreen fund PERA Ristra MDCP Co-Investment which will invest in middle-market buyouts alongside Madison Dearborn Capital Partners VIII, as well as future MDCP funds in which PERA will invest. The deals were closed in September and October of last year.

As of October 31, 2024, New Mexico PERA said it oversees total plan assets of approximately $17.8B.