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NMERB approves $150m 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: $100-200m

New Mexico Educational Retirement Board has announced a commitment of $150 million to PIMCO Corporate Opportunities Fund III, a contact at the pension informed PERE.

The $13.60 billion US public pension has an 8.0 percent target allocation to private real estate that currently stands at 6.40 percent. This is NMERB’s first commitment of 2020.

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