New Mexico Educational Retirement Board

About New Mexico Educational Retirement Board

New Mexico Educational Retirement Board's investment portfolio is valued at $16.76 billion as of March 31, 2024, with investments in domestic and international equity, fixed income, real estate, infrastructure, hedge funds, distressed debt, private equity, real assets, natural resources, and cash. Its returns for the quarter, 1 year, 3 years, 5 years, and 10 years were 2.93%, 8.93%, 7.04%, 8.29%, and 7.59%, compared to the benchmark return of 3.38%, 10.75%, 5.68%, 7.96%, and 7.26%, respectively. As of March 31, 2024, the private equity portfolio was valued at $3.79 billion, representing 22.7% of the total portfolio. This is an increase compared to September 30, 2023, when the private equity portfolio was valued at $3.63 billion. The private equity portfolio is currently within the target allocation range of 0% to 35%. As of March 31, 2024, the fund's private equity return for the quarter, 1 year, 3 years, 5 years, and 10 years were 1.7%, 3.1%, 15.2%, 14.5%, and 13.9%, compared to the benchmark return of 2.9%, 7.0%, 11.5%, 14.8%, and 12.7%, respectively. Investments in private equity include buyouts, co-investment, private debt, fund of funds, mezzanine, secondaries, diversified private equity, private equity growth expansion, and venture capital strategies diversified in geographical locations across the globe. As of March 31, 2024, the real asset portfolio which is valued at $1.81 billion consists of $671.91 million invested in infrastructure and $1.14 billion invested in the natural resources portfolio. The plan's investments are governed by the executive management team, with Mr. Bob Jacksha serving as Chief Investment Officer. CBRE Caledon, NEPC, Hamilton Lane, and Top Tier Capital Partners are the LP Consultants.