New Mexico ERB invests up to $50m with OrbiMed Advisor fund

OrbiMed's latest fund launched in August.

Institution: New Mexico Educational Retirement Board                          Headquarters: Santa Fe, United States
AUM: $12.44 billion
Allocation to alternatives: 23%

New Mexico Educational Retirement Board committed $50 million to OrbiMed Private Investments VIII at its September 2020 board meeting, according to a meeting agenda.

OrbiMed Advisors’ fund launched in August and is targeting $1.4 billion, according to Private Equity International data.

As illustrated below, private equity makes up 17 percent of the $12.4 billion system’s portfolio.

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