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New Mexico pension invests in infrastructure and real estate

by Andrea Waitrovich

The $11 billion New Mexico Educational Retirement Board has made investments in infrastructure.

The board invested $100 million in a co-investment fund for U.S. and global infrastructure assets managed by Caledon Capital Management. Recently, NMERB approved modifications to its infrastructure investment policy, adding public debt and equity as possible exposures, and increasing the amount it can invest directly or through co-investment to 50 percent of the infrastructure program.

NMERB also approved a $150 million allocation to Lone Star Fund X managed by Lone Star Funds. The fund launched this year with a $5 billion fundraising target. The global opportunistic distressed fund will invest in the United States, Europe and Japan.

This is not NMERB’s first commitment to a Lone Star fund; the pension fund previously invested in Lone Star Real Estate Funds I and II, as well as Lone Star Funds VII, VIII and IX. And in March the board committed $4

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