The
The $8 billion New Mexico Educational Retirement Board has a target allocation to private equity of 10 percent. As of January, commitments to the asset class totaled about $765 million, or 9.4 percent of total assets, to 25 private equity funds. Only about 2.6 percent of that total has been drawn down so far.
NEPC begins its new assignment on June 30 and has a four-year term. Other finalists in the retirement plan’s consultant search included
The new consultant will assist staff in developing and updating the goals and strategy for the private equity program, including determining yearly pledge targets, screening investment opportunities and monitoring investments.
The pension fund fired Aldus Equity in April 2009 because of a kickback scheme involving several state institutions, including the
Although the LP’s private equity program is fairly new, with most of the funds in it from the 2007 vintage or younger, “we are pleased with the one-year return from private equity of 15.1 percent,” Chief Investment Officer Bob Jacksha told Buyouts.