The New Mexico Educational Retirement Board (NMERB) provides retirement benefits to teachers, administrators, and other educational employees across New Mexico’s public schools and higher education institutions. With approximately $14 billion in total assets, NMERB serves over 100,000 active and retired members.
Investment Strategy
NMERB maintains a diversified investment portfolio across public equities, fixed income, private equity, real estate, private credit, and other alternatives. The Board of Trustees sets strategic allocation targets based on actuarial studies and capital market expectations. The investment team implements the strategy with support from external managers and consultants.
The alternatives program includes private equity commitments across buyout, growth, and venture strategies. Real estate investments span core and value-add funds across diversified property sectors. Private credit allocations provide current income and portfolio stability. NMERB has been expanding its alternatives program over the past decade.
How to Approach
Fund managers should contact the NMERB investment staff in Santa Fe. The fund evaluates managers on track record, team quality, strategy differentiation, and terms. NMERB works with investment consultants who help source and screen managers. GPs should provide a fund overview, performance history, and description of their competitive advantages.
Frequently Asked Questions
What is NMERB's alternatives allocation?
NMERB allocates approximately 20% of its $14 billion portfolio to alternative investments, including private equity, real estate, and private credit. The fund has been building its alternatives program to enhance returns and reduce correlation with public markets.
What types of private equity does NMERB invest in?
NMERB's private equity portfolio spans buyout, growth equity, and venture capital strategies. The fund invests primarily through commingled funds and selectively considers co-investment opportunities. Typical commitment sizes range from $25 million to $75 million per fund.
How can GPs approach NMERB?
GPs should contact the NMERB investment team in Santa Fe. The fund works with investment consultants and evaluates managers through a structured due diligence process. NMERB values track record consistency, team stability, and competitive fee structures.
