- AUM: $13 bln
- PE Allocation: 15 pct actual/ 13 pct target
- Contact: Bob Jacksha, CIO: email@example.com
New Mexico Educational Retirement Board reupped with midstream energy investment firm Five Point Energy at its July 18 meeting.
The system committed a combined $80 million to Five Point Energy, with $30 million coming from its allocation for private equity and a $50 million commitment from its natural resources allocation, CIO Bob Jacksha told Buyouts.
New Mexico ERB previously invested in Five Point Energy’s Fund I and Fund II, according to Jacksha.
Five Point Energy’s second fund closed at $750 million in 2018. Target size for Fund III wasn’t available.
The system’s July private equity commitment is much lower than its PE commitments for May, where it pledged $280 million to Ecosystem Investment Partners, SV Health Investors’, Olea Special Opportunities Fund and ILS Capital Management, Buyouts reported.
Private equity makes up 15 percent of New Mexico’s portfolio, exceeding its 13 percent target, as of March 31.