NMERB approves $50m commitment

The US public pension has backed a North America focused fund.

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 a commitment of $50 million to Tenex Capital Partners Fund III, a contact at the pension informed Private Equity International.

Additionally, a contract with NEPC was approved for private equity consulting.

The $13.60 billion US public pension has a 15.0 percent target allocation to private equity that currently stands at 15.70 percent.

NMERB has made eight commitments to funds with a 2019 and 2020 vintage, which combined constitute $540 million.

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