The $13.8 billion New Mexico Educational Retirement Board (NMERB) has invested $50 million in Prostar Energy Infrastructure Fund II, managed by Prostar Capital.
Bob Jacksha, chief investment officer for the retirement board, told IREI in an email that this is NMERB's first investment in a Prostar fund.
Prostar Energy Infrastructure Fund II is targeting mid-market midstream opportunities with deals ranging between $50 million and $150 million in value. Prostar’s portfolio includes gathering, processing, storage, transmission and distribution assets.
In June 2019, the Washington State Investment Board backed Prostar Energy Infrastructure Fund II with a $200 million commitment.
NMERB has a 9 percent target allocation to real assets, which includes infrastructure.
