NMERB approves $315m in commitments

The US public pension has backed five private equity focused funds.

Institution: New Mexico Educational Retirement Board
Headquarters: Santa Fe, United States
AUM: $13.60bn
Allocation to alternatives: 41.80%
Bitesize: $50-$100m

New Mexico Educational Retirement Board announced $315 million-worth of private equity commitments to five vehicles, a source at the pension informed Private Equity International.

The commitments comprise of $100 million to Vista Credit Opportunities Fund III, $75 million to BPC Tactical Fund, $50 million each to Lightyear Fund V and Ares Corporate Opportunities Fund VI and $40 million to Banner Ridge DSCO Fund I (in addition to an existing $40 million).

The US public pension has an 15.0 percent target allocation to private equity that currently stands at 15.70 percent.

As illustrated below, the pension fund has historically committed to North America focused funds.

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