Banner Ridge Partners receives commitment from New Mexico ERB

Institution: New Mexico Educational Retirement Board
Headquarters: Santa Fe, US
AUM: $12.50bn
Allocation to alternatives: 41.4%
Bitesize: $50m-$100m

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 Secondary Fund III and Banner Ridge DSCO Fund I are managed by Banner Ridge Partners. Banner Ridge was founded by Tony Cusano, the former secondaries head at Siguler Guff.

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.

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