New Mexico ERB allocates US$100 million to infrastructure co-investment programme

Category: News
Published: 2019-04-25

NEW MEXICO – New Mexico Educational Retirement Board (NMERB) has approved US$100 million of new capital for infrastructure co-investments, managed by CBRE Caledon.

NMERB has been making direct co-investments since 2013, committing US$85 million at the outset, followed by a US$100 million commitment in 2016.

The latest mandate will be global in focus and include core and value-add, and brownfield and greenfield investments, according to a board meeting report.

NMERB told IPE Real Assets that it was non-discretionary, allowing the pension fund to veto any investments.

The pension fund’s infrastructure portfolio was valued at US$658 million at the end of last year, including 11 fund commitments worth US$473 million.

Source: Real Assets