Institution: New Mexico Educational Retirement Board
Headquarters: Santa Fe, US
Allocation to alternatives: 41.4%
New Mexico Educational Retirement Board has agreed to commit $100 million to Banner Ridge Secondary Fund III and $40 million to Banner Ridge DSCO Fund I, according a contact at the pension.
Banner Ridge III, which Secondaries Investor reported has a $350 million target, buys fund stakes managed by general partners who focus on distressed, special situations and credit investments.
As illustrated in the charts below, New Mexico ERB has made two commitments to secondaries funds in 2019, which combined constitute $140 million.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.