The $9.5 billion New Mexico Educational Retirement Board (NMERB) has chosen portfolio manager and adviser Caledon Capital Management to manage its infrastructure allocation, according to Asif Hussain, a partner at Caledon. The award is subject to negotiation of final terms and conditions.
NMERB will be Toronto-based Caledon’s first U.S. client. NMERB has allocated capital to infrastructure since 2007, but Caledon will be responsible for analyzing, researching and recommending managers and performance reporting duties as well as underwriting co-investments.
According to Hussain, Caledon will first evaluate the plan’s current infrastructure policy and investments with the long-term goal of establishing strategy that employs managed funds, co-investments and potentially secondary purchase of limited partnership interests. The p