Investors - JUNE 5, 2015

New Mexico PERA commits $125m to two funds

by Zoë Wolff

The Public Employees Retirement Association of New Mexico has committed $125 million to infrastructure and real estate funds: $65 million to Ardian Infrastructure IV and $60 million to Rockwood Capital Real Estate Partners Fund X.

Ardian Infrastructure IV, sponsored by Ardian, is targeting $2 billion in equity commitments and will focus on developed markets in OECD countries in Western Europe. The fund will invest in developed projects in transportation, energy, telecommunications, social, renewables and water sectors, according to Christina Keyes, portfolio manager of real returns for New Mexico PERA.

“Ardian provides a unique opportunity to invest with a manager who has extensive experience within the infrastructure space and a deep network of employees and contacts with which to pursue some of the best opportunities available. Ardian will complement PERA’s current infrastructure investments through their refined focus on opportunities within Western Europe,” says Keyes.

This is the $14.5 billion pension fund’s first investment with Ardian, formerly AXA Private Equity.

Rockwood Capital Real Estate Partners X, sponsored by Rockwood Capital, is a U.S. value-added fund focusing on office, retail, hotel and apartment sectors. The fund is targeting net returns between 12 percent and 14 percent.

“Rockwood is a strong manager who [has] consistently refined [its] strategy over the course of prior funds to maximize returns for investors,” says Keyes.

New Mexico PERA previously committed to Rockwood Capital Real Estate Partners FundVIII and Fund IX.

Illinois Municipal Retirement Fund recently committed $50 million to the Rockwood fund.

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