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New Mexico ERB approves $190m in commitments

The US public pension has backed three North America focused funds.

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Institution: New Mexico Educational Retirement Board
Headquarters: Santa Fe, United States
AUM: $12.50bn
Allocation to alternatives: 41.40%
Bitesize: $50-100m

New Mexico Educational Retirement Board has announced commitments of $100 million to Banner Ridge Secondary Fund III, $50 million to ZMC III and $40 million to Banner Ridge DSCO Fund I.

The $12.50 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 14.8 percent. As illustrated in the charts below, the fund has made eight commitments to private equity funds in 2019, which combined constitute $480 million.

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