The New Mexico Public Employees Retirement Association (PERA) has committed $100 million to ITE Diversified Transportation Asset Fund and $100 million to KKR Diversified Core Infrastructure Fund, documents from NMPERA’s March 28 board meeting reveal.
ITE Diversified Transportation Asset Fund is an open-end infrastructure fund managed by ITE Management, an investment firm focused on transportation and industrial assets, companies and related services that is focused on long-view investments rather than expedient ones.
The KKR Diversified Core Infrastructure Fund is an open-end fund investing in infrastructure assets globally.
As of Dec. 31, 2023, 17.65 percent of New Mexico PERA’s portfolio was allocated toward real assets, with 8.78 percent towards illiquid real estate, 1.01 percent to liquid real assets and 7.86 percent to illiquid real assets.