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New Mexico ERB backs SV Health, Ecosystem Investment Partners

New Mexico Educational Retirement Board pledged $280 million to private equity funds at its May 23 board meeting.

The Investment Committee committed:

  • $50 million to Ecosystem Investment Partners’ fourth fund, which focuses on ecological restoration and conservation. New Mexico previously committed to its previous funds;
  • $35 million to SV Health Investors’ SV7 Growth Fund and $20 million to SV7 Impact Fund. SV Health Investors supports entrepreneurs in the healthcare sector and invests in early-stage opportunities in biotechnology and medical devices;
  • $150 million to Olea Special Opportunities Fund. The system has a current commitment of $85 million;
  • $25 million to ILS Capital Management’s 1609 Fund Ltd, in which New Mexico has an existing investment of $100 million. ILS is an employee-owned investment manager that focuses on pooled investments and insurance companies, according to Bloomberg.

Target information on the funds were not available.

The system’s private equity allocation sits at 13 percent, according to its 2018 Comprehensive Annual Financial Report.