New Mexico Educational Retirement Board Commits $200 Million to Alternatives
Written by: Morgan Holycross, Marketing Manager
The New Mexico Educational Retirement Board (NMERB) has committed $200 million across two alternative funds.
Real Estate
At the August 26th board meeting a $100 million commitment was made to the Edgewood Partners III, a real estate-co investment fund run by Hamilton Lane.
Private Credit
$100 million was committed to the Waterfall Dislocation Opportunity Fund. This fund is an opportunistic credit fund, and is an existing manager within NMERB.
The $3.7 billion Retirement Board currently allocates 17% to opportunistic credit and has a target allocation of 16% as of June 30th 2022. The actual and target allocation to real estate was 8.6% and 8% respectively.
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