Investors - NOVEMBER 3, 2014

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NMERB commits $80m to real estate

by Reg Clodfelter

The $11.2 billion New Mexico Educational Retirement Board has committed $50 million to real estate, divided into two follow-on commitments with Hammes Partners II and Kildare European Partners, and proposed a $30 million commitment to natural resources.

Both Hammes Partners II and Kildare European Partners had received $25 million commitments from the retirement board earlier this year, after which NMERB increased its target allocation to real estate.

“Since we first committed with these managers, my allocation to real estate has been increased from 5 percent to 7 percent of the portfolio, so that gave us more room, and if we had known that we were going to have another 2 percent, we would have been doing tickets at $50 million a pop,” explains Mark Canavan, senior portfolio manager with N

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