The $13 billion New Mexico Educational Retirement Board (NMERB) has committed a total of $105 million to two infrastructure funds.
The board made a follow-on commitment of $25 million to the New Mexico ERB Separate Account, managed by Stonepeak Infrastructure Partners. Launched in 2017, the separate account targets infrastructure debt across the United States.
The New Mexico pension fund previously committed $25 million to the account in 2017.
The fund also invested $80 million in the Five Point Energy Fund III, managed by Five Point Energy. The limited partnership fund was launched early in July and targets energy infrastructure investments in the United States.
It invests on behalf of endowment funds, family offices, foundations, foreign institutions, insurance companies and public pension funds.
The fund’s predecessor followed a similar investment style and closed in 2018, achieving its fundraising target of $750 million.