According to the website Mandate Pipeline, the Investment Committee at the New Mexico Public Employees' Retirement Association (NMPERA) approved a recommendation to invest up to $50 million in a global infrastructure fund offered by Kohlberg Kravis Roberts (KKR) at its Aug. 12 meeting.
Christina Keyes, portfolio manager-real returns at the $14.7 billion pension plan, said via email to Mandate Pipeline that the full Board has now to approve the final allocation to commit the funds to the KKR Global Infrastructure Investors Fund II,
KKR is trying to raise $2 billion for its KKR Global Infrastructure Investors Fund II. The fund seeks equity positions in brownfield economic and social assets with the scope to examine greenfield opportunities a global focus with a particular interest in the US and Europe.The fund will primarily invest in renewable energy, pipelines, utilities and transportation-related assets.
Cliffwater, LLC, an alternative investment consultant headquartered in California is assisting NMPERA with the potential investment.
Real assets investments are a sub-target of NMPERA's overall 18% target to alternatives.
Last month, the New Mexico Educational Retirement Board approved a new infrastructure commitment of $50 million to the ISQ Global Infrastructure Fund during its August 14 Investment Committee meeting. Before, in April, the New Mexico State Investment Council (NMSIC) announced an investment of $100 million in the energy private equity fund First Reserve Energy Infrastructure Fund II, L.P..