NMERB approves $215m in commitments

The US public pension has backed three North America focused funds.

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 announced $215 million-worth of private debt commitments to three vehicles, a source at the pension informed Private Debt Investor.

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

The US public pension has a 41.80 percent asset allocation to alternative investments.

As illustrated below, the pension fund has historically committed to subordinated/mezzanine debt focused funds in North America.

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