New Mexico commits $108m to real assets
The $11.4 billion New Mexico Educational Retirement Board made a total of $107.5 million in commitments to real estate and energy funds.
NMERB committed $40 million to real estate fund Ram Realty Partners IV, $37.5 million to natural resources fund EnerVest Energy Institutional Fund XIV and $30 million to Sares-Regis Multifamily Value-Add Fund II.
The pension fund made previous investments with Ram Realty and Sares-Regis in 2012.
As of December 2014, NMERB has a target allocation to real estate of 7 percent and an actual allocation of 5.8 percent.