New Mexico Employees commits $250m to real assets funds

The New Mexico Public Employees Retirement Association (PERA) has committed $100 million to ITE Diversified Transportation Asset Fund, $100 million to KKR Diversified Core Infrastructure Fund and $50 million to Carlyle Property Investors, 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.

Managed by The Carlyle Group, CPI is an open-end fund that was launched in 2015 and invests with a core-plus strategy in a diverse array of real estate sectors in the United States.

As of Dec. 31, 2023, 17.65 percent of New Mexico PERA’s portfolio was allocated toward real assets, with 8.