NMERB approves $50m commitment

The US public pension has backed a European opportunistic vehicle.

Institution: New Mexico Educational Retirement Board
Headquarters: Santa Fe, US
$14.20 billion
Allocation to alternatives: 20.20%

New Mexico Educational Retirement Board has approved a $50 million commitment to Kildare European Partners III, a contact at the pension fund informed PERE.

The $14.20 billion US public pension has an 8 percent target allocation to private real estate that currently stands at 3.90 percent.

As illustrated below, the majority of NMERB’s recent real estate commitments have focused on North American and European vehicles targeting value-add and opportunistic returns.

Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.