---
title: New Mexico ERB Commits $585M to Alts
description: New Mexico ERB Commits $585M to Alts
---

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# [New Mexico ERB Commits $585M to Alts](https://dakotafunds.com/dakota-funds/fundraising-news/new-mexico-erb-commits-585m-to-alts)

 Written by [Helen Bascom, Marketing Associate](https://dakotafunds.com/dakota-funds/author/helen-bascom-marketing-associate) | November 15, 2023

The New Mexico Educational Retirement Board disclosed seven recent commitments to alternatives totaling $585 million, according to Board of Trustees Meeting Minutes.

In private equity, $75 million was allocated to Banner Ridge Secondary Fund V and $20 million to Ballast Equity Partners Fund I, with an additional $10 million committed to a sidecar co-investment, and $80 million was allocated to Five Point Water Management and Sustainable Infrastructure Fund IV, an energy focused fund.

In real estate, $100 million was allocated to Kildare Partners IV, $100 million to Edgewood Fund IV, managed by Hamilton Lane, and $50 million to Ram Special Opportunities Fund. 

In private credit, $150 million was allocated to Sixth Street TAO.

As of June 30, 2023, the $16 billion pension fund has allocated approximately 51.4% to alternative asset classes with a target allocation of 47%. With 22.2% of that being in  private equity with a target allocation of 17%. And approximately 9.7% being in real estate with a target of 8%.

*For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a *[free trial](https://www.dakota.com/free-trial)* of Dakota Marketplace!*

 

[View full post](https://dakotafunds.com/dakota-funds/fundraising-news/new-mexico-erb-commits-585m-to-alts)

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