Investors - OCTOBER 13, 2016

New Mexico PERA commits $150 to real assets

by Jody Barhanovich

The $14.4 billion Public Employees Retirement Association of New Mexico has committed $150 million to agriculture and infrastructure investments, which are housed within its real assets allocation.

The first commitment was an allocation of up to $75 million to Tillridge Global Agribusiness Partners II, an illiquid real assets partnership that invests in the midstream agribusiness sector. This is PERA’s first commitment to a Tillridge fund.

The second commitment was an allocation of $75 million to IFM Global Infrastructure, an open-end infrastructure fund managed by IFM Investors. The fund invests in high-quality core infrastructure assets.

New Mexico PERA recently committed $75 million each to Harrison Street Real Estate Partners VI fundand Starwood Global Opportunity Fund XI.

The pension fund recently increased its real estate and real assets target allocation to 20 percent, a combined 8 percent increase.

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