Hedge Funds Institutional Investors

Waterfall wins $250m from New Mexico pension

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The firm scored mandates for two of its funds.

Asset-backed securities manager Waterfall Asset Management has won a $150 million commitment for its Waterfall Eden Fund and a $100 million commitment for its Waterfall Victoria Fund from the New Mexico Educational Retirement Board. The $9.3 billion pension plan’s investment committee approved the allocations earlier this month and the funding is pending contract negotiations, said chief investment officer Bob Jacksha.

The investments will be part of the pension fund’s opportunistic allocation, a pool of capital set aside for investing quickly in credit and fixed-income strategies. The allocation has no express target, but the pension could invest as much