Institutional Investors People moves

New Mexico ERB adds opportunistic strategies

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The New Mexico Educational Retirement Board has added three managers, two of which are hedge funds that offer senior secured direct lending products within the pension fund’s opportunistic credit programme.

The $9.6 billion retirement plan allocated $300 million to be split between GSO Partners and Medley Capital, which are the first single hedge fund managers to be included in the investment portfolio as part of a $720 million allocation to hedge funds overall. The allocations come after consulting firm NEPC assisted the pension fund move assets to fund new allocations.

The $150 million