New Mexico Educational Retirement Board

About New Mexico Educational Retirement Board

New Mexico Educational Retirement Board is a public pension fund with an investment portfolio valued at $16.76 billion as of March 31, 2024. It invests in domestic and international equity, fixed income, real estate, infrastructure, hedge funds, distressed debt, private equity, real assets, natural resources, and cash. Returns over the quarter, 1 year, 3 years, 5 years, and 10 years were 2.93%, 8.93%, 7.04%, 8.29%, and 7.59%, against benchmark returns of 3.38%, 10.75%, 5.68%, 7.96%, and 7.26%, respectively. On March 31, 2024, the private equity portfolio was valued at $3.79 billion, 22.7% of the total portfolio, up from $3.63 billion on September 30, 2023. It currently sits within the target allocation range of 0% to 35%. As of March 31, 2024, private equity returns over the quarter, 1 year, 3 years, 5 years, and 10 years were 1.7%, 3.1%, 15.2%, 14.5%, and 13.9%, against benchmark returns of 2.9%, 7.0%, 11.5%, 14.8%, and 12.7%, respectively. Private equity investments include buyouts, co-investment, private debt, fund of funds, mezzanine, secondaries, diversified private equity, private equity growth expansion, and venture capital strategies, diversified across geographies worldwide. On March 31, 2024, the real asset portfolio was valued at $1.81 billion, made up of $671.91 million in infrastructure and $1.14 billion in the natural resources portfolio. The executive management team governs the plan's investments, and Mr. Bob Jacksha is Chief Investment Officer. The LP Consultants are CBRE Caledon, NEPC, Hamilton Lane, and Top Tier Capital Partners.