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Legislative Division of the Public Employees Retirement Association of New Mexico

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Legislative Division of the Public Employees Retirement Association of New Mexico
NMPERA-logo.png
Basic facts
Location:Santa Fe, New Mexico
Top official:Paula Fisher, board chair
Year founded:1947
Active members:110
Website:Official website
Total assets under management
2023:$46,822,823
See also: Public pensions in New Mexico

The Legislative Division of the Public Employees Retirement Association of New Mexico (Legislative Division) is a New Mexico state pension fund that provides retirement, disability, and survivor benefits to the state's legislators. The Legislative Division had $46,822,823 ($46.8 million) in total assets under management as of June 30, 2023.[1]

The management of public pension funds can indicate support or opposition to environmental, social, and corporate governance (ESG) investment practices. ESG investing considers the extent to which corporations align with and promote certain non-financial standards, such as net carbon emission or corporate board diversity goals. States typically hire asset management companies (AMCs) to direct pension plan investments, some of which have ESG commitments that guide their strategies.

This article features the following sections:

Background

See also: Public pensions

The Legislative Division of the Public Employees Retirement Association of New Mexico (Legislative Division), founded in 1947, invests the assets of and provides funding for the state’s legislators. The Legislative Division is a sub-fund under the New Mexico Public Employees Retirement Association (PERA) and operates as a defined benefit plan.[2]

The Legislative Division served over 110 active members and approximately 210 retirees and beneficiaries as of June 30, 2023.[2][1]

Pension performance overview

The following table features information about the funding level and assets managed by the Legislative Division of the Public Employees Retirement Association of New Mexico as of June 30, 2023:[1]

The Legislative Division of the Public Employees Retirement Association of New Mexico pension performance (June 30, 2023)
Fiscal year Percent funded Unfunded liabilities Total assets[3]
2023 119.6% $7,662,121 $46,822,823

Assets and asset management

Environmental, social, and corporate governance
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Asset management companies (AMCs) are hired to manage asset investment for state pension funds across all 50 states.

As of October 2024, 330 AMCs were members of the Net Zero Asset Managers Initiative (NZAM), and 391 AMCs were investor participants in the Climate Action 100+ initiative. Both international asset manager initiatives aimed to align the investment decisions of signatories with the goal of achieving net zero greenhouse gas emissions by 2050.[4][5]

NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it would reevaluate its plans and operations in light of “[r]ecent developments in the U.S. and different regulatory and client expectations in investors’ respective jurisdictions.”[6]

List of AMCs contracting with the Legislative Division of the Public Employees Retirement Association of New Mexico

The Legislative Division of the Public Employees Retirement Association of New Mexico (Legislative Division) is a sub-fund within the Public Employees Retirement Association of New Mexico (PERA). PERA administers the Legislative Division, among other retirement and benefit plans for the governmental workers of New Mexico. The Legislative Division does not contract with its own AMCs; the AMCs for PERA account for all the pension plans it administers.[7]

PERA contracted with 224 asset management companies (AMCs) or specific funds as of March 31, 2022. Of those companies, 16 were investor participants in Climate Action 100+, and 12 were members of NZAM, as of 2024. The following list identifies the AMCs (and in some cases, the specific funds) contracting with PERA:[8]

  • Acadian International Equity (NZAM, Climate Action 100+)
  • ACM II
  • Aermont Cap RE Fund IV
  • AG Super Fund LP.
  • Altaris Con Partners IV
  • Altaris Health Partners IV
  • Altaris Health Partners V
  • Anchorage
  • Antin III
  • Ardian Americas V
  • Ardian Infrastructure IV
  • Ardian V
  • Atalaya SOF VI
  • Athyrium Opportunities Fund lI, LP.
  • Axiom Emerging Markets (Climate Action 100+)
  • BEP Legacy A LP
  • BlackRock Core Active (NZAM, Climate Action 100+)
  • BlackRock Equity Transition (NZAM, Climate Action 100+)
  • BlackRock Global Fl (NZAM, Climate Action 100+)
  • BlackRock MSCIACWI Minimum Volatility (NZAM, Climate Action 100+)
  • Blackstone Real Estat Part Euro II! LP
  • Blackstone Real Estate Partners VIl
  • BPG Investment Partnership VIII
  • Brookfield Infrastructure Fund Il LP (NZAM)
  • Brookfield Infrastructure Fund Ill (NZAM)
  • Canyon Value Realization Fund, LP.
  • Carlyle Partners V, LP.
  • Carlyle Partners VI LP
  • Carlyle Power Partners II
  • Carlyle Realty Partners V LP.
  • Carlyle Realty Partners VI, LP.
  • Cash Account
  • Cash-Corporate Action
  • Century Focused Fund IV
  • Cerberus Global RPL
  • Cerberus Inst. Partners LP- Series 4
  • Charterhouse Capital Partners |X
  • Charterhouse Capital Partners X
  • Cheyne V (Climate Action 100+)
  • Coller International Partners V, LP.
  • CVC European Equity Partners V
  • CVC VII
  • Denham Cap. Part. VI Coinvestment
  • Denham Commodity Partners Fund VI, LP
  • Deutsche Listed Infrastructure
  • DFA Real Estate Securities
  • DFA US Targeted Value
  • DFJ Fund XII LP
  • Dorsal
  • Draper Fisher Jurveston X, LP
  • Eagle Point
  • Ellington HF
  • Elliot
  • Encap Energy Capital Fund IX, LP.
  • Encap Energy Capital Vil, LP.
  • Encap Energy Capital Vill, LP.
  • EnCap Energy Capital XI, LP.
  • EnCap Flatrock Midstream Fund III
  • Enchantment PH Co-Invest
  • European Real Estate Debt Fund II
  • European Real Estate Debt Fund Ill
  • Farallon Capital Inst. Partners, LP
  • First Reserve Fund Xl, LP
  • FountainVest Fund Il
  • Four Corners FF
  • Garda
  • Garrison Opportunity Fund IV A LLC
  • GEM RLTY EVERGREEN
  • General Catalyst Endurance
  • General Catalyst Ignition
  • Glazer
  • Glide Buy-Out Fund IV
  • Global Equity Overlay
  • GTCR X, LP.
  • GTCR XI, LP.
  • Guggenheim Global High Yield
  • Harrison Street Real Estate Partners V
  • Harrison Street Real Estate Partners VI
  • Harrison Street Real Estate Partners Vil
  • Harrison Street Real Estate Vill
  • Harvest MLP Alpha
  • Hellman & Friedman Cap. Part. VI
  • Hellman & Friedman Cap. Partners VII
  • Hellman Arrow 1
  • Hellman Samsn Heky 1
  • Hellman Samsn Shield
  • Hellman Samson Brunella SPV
  • Hellman X
  • Helm & Frid Spock 1
  • HIG Bayside Loan Opportunity Fund II
  • IFM Global Infrastructure Fund, LP. (NZAM, Climate Action 100+)
  • Institutional Venture Partners XIII
  • Institutional Venture Partners XIV LP
  • JM! Equity Fund VI, L.P.
  • JMI Equity Fund Vil, L.P.
  • Kayne Anderson Energy Fund V, LP
  • Kayne Anderson Small Core
  • KBI Global Investors EAFE Dev (NZAM, Climate Action 100+)
  • Kelso Investment Advisors IX
  • Kelso Investment Associates X
  • Kelso Investments Assoc. VIII, LP
  • King Street Capital, LP.
  • KKR Global Infrastructure Investors I
  • KRG Capital Fund IV, LP.
  • KSL Capital Partners IV
  • Lazard Emerging Markets Debt (NZAM, Climate Action 100+)
  • LGIMA Credit Overlay
  • LGIMA Global Equity Overlay
  • LGIMA Overlay
  • LGIMA TAA Overlay
  • Lime Rock Partners V, LP.
  • Lime Rock Partners VI, LP.
  • Lime Rock Resources Ill
  • Lincolnshire Equity Fund |v, L.P.
  • Linsalata Capital Partners Fund VI, LP
  • MacKay Shields Core Investment Grade
  • Madison Dearborn Patriot SPV
  • Madison Dearburn Cap. Partners VI, LP
  • Madison Real Estate Debt
  • Manulife Core Global Agg. Fixed Income (Climate Action 100+)
  • Marshall Wace Eureka (Climate Action 100+)
  • Mass Ascension Co-Invest
  • MFS International Value (Climate Action 100+)
  • Millenium
  • MINA III
  • Montagu VI
  • Mudrick Stressed CR FKA CVC
  • Napier Park Class A
  • Napier Park Class B
  • Natural Gas Partners Fund IX
  • Natural Gas Partners X
  • New Enterprise Associates 13
  • New Enterprise Associates 14
  • NEW ROCK CORE FUND
  • NGP Natural Resources Xl, LP
  • NGP XII
  • Nordic Capital Fund Vil
  • North Haven VII
  • NT MSCI ACWI x-US Index
  • Oaktree Eur. Prin. Fund I!l(US), LP
  • OCM Opportunities Fund Vil, LP.
  • OCM Opportunities Fund Vilb, LP.
  • OCM Opportunities Fund Vill, LP
  • ON Dearborn Vill
  • Onex Partners Ill, L.P
  • Onex Partners IV LP
  • Onex Partners V, LP.
  • Orchid Asia
  • Pacific AA
  • Paine and Partners Capital Fund IV
  • Parametric Bonds Plus (Climate Action 100+)
  • Parametric Credit Cash Overlay (Climate Action 100+)
  • Patria PE Fund VI
  • Pavilion Global Transition
  • Perella Weinberg III
  • Petershill
  • Petershill IV
  • Pharo Gaia Fund
  • PIMCO Commodities
  • PIMCO TIPS
  • Pine Bridge Passport |
  • PineBridge High Yield (NZAM)
  • Portable Alpha
  • Principal International Small Cap
  • Providence Equity Partners VI, L.P
  • Prudential Core Conservative
  • Quantum Energy Partners IV, LP.
  • Quantum Energy Partners V, LP
  • R/C Global Energy & Power Fund IV
  • R/C Renewable and Alt. Energy Il
  • RCP Fund of One
  • Real Assets Cash Overlay
  • Risk Mitigation Overlay
  • Riverstone Global Energy & Power Fd V
  • Rockpoint Fund Il
  • Rockpoint Fund Ill
  • Rockwood Cap. Real Estate Part. IX, LP
  • Rockwood Cap. Real Estate Part. X, LP
  • Rockwood Cap. Real Estate XI
  • RRJ Capital Master Fund Ill LP
  • Russell Transition (NZAM, Climate Action 100+)
  • Sarofim
  • Schroder International Small
  • Security Capital Alpha
  • Security Capital Beta
  • Selene Res. Mortgage Opp. Fund Il LP
  • Silver Point Capital Fund, L.P
  • Sixth Street Ops Ill
  • SSgA ACWI IMI Index Fund
  • SSgA Russell 1000 Index
  • Stark Investments
  • Starwood Distressed Opportunity IX, LP
  • Starwood Global Opportunity VIII, LP
  • Starwood Global Opportunity XI
  • Starwood Opportunity Fund X
  • Starwood XII
  • Stockbridge NLF
  • Stockbridge Value Fund IV
  • Sun Capital Partners V, LP.
  • Systematica
  • Technology Crossover Ventures Ix, LP
  • Technology Crossover Ventures VII, L.P
  • Technology Crossover Ventures X, LP
  • Tenex Capital Partners III
  • The Resolute Fund II, L.P.
  • The Resolute Fund Ill, LP.
  • The Resolute Fund IV, L.P.
  • The Resolute Fund V, LP.
  • Tillridge
  • TimesSquare Capital SMID Cap Growth
  • TPG Asia V, LP
  • TPG Partners VI, LP
  • TPG-Axon Partners, LP
  • Trinity Ventures XIl
  • Two Sigma
  • Walton Street Real Estate Fund VI
  • Warburg Pincus GG
  • Warburg Pincus PE Xl
  • Wayzata Opportunities Fund II, LP
  • Wayzata Opportunities Fund Il, LP.
  • Wheeler Peak Rotational Credit
  • Wheelock Street Real Estate Fund II
  • White Sands Tenex Co-Inv
  • Zia Risk Parity Fund

Governance and accountability

This section features information about the 12-member board of trustees that oversees the Legislative Division of the Public Employees Retirement Association of New Mexico (Legislative Division). The board, known as the Board of the Public Employees Retirement Association, is not specific to oversight of the Legislative Division and exercises oversight duties for other sub-funds under the Public Employee Retirement Association of New Mexico.[9]

Board selection method

The board of trustees that oversees the Legislative Division is made up of 12 members. The board is composed of four members under a state coverage plan elected by state members; three members under a municipal coverage plan elected by municipal members; one municipal member employed by a county elected by municipal members; two retired members elected by PERA retirees; the secretary of state; and the state treasurer.[9]

Board of trustees membership

A 12-member board of trustees oversees the operation and administration of the Legislative Division. The following individuals served on the board as of May 2024:[9]


  • Paula Fisher, board chair
  • Valerie Barela, vice chair
  • Juan Diaz
  • Tony Garcia
  • Laura Montoya
  • Steven Astorga
  • Francis Page
  • Shirley Ragin
  • Roberto Ramirez
  • Augustine Romero
  • Diana Rosales-Ortiz
  • Maggie Toulouse Oliver

See also

External links

Footnotes

  1. ↑ 1.0 1.1 1.2 NMPERA.org, “Legislative Division of the Public Employees Retirement Association of New Mexico Annual Actuarial Valuation - Funding As of June 30, 2023,” May 21, 2024
  2. ↑ 2.0 2.1 NMPERA.org, “About,” May 21, 2024
  3. ↑ Note: By default, this refers to the actuarial valuation of total assets. In some cases, the total market value of assets is shown instead. See the cited source for details.
  4. ↑ The Net Zero Asset Managers Initiative, "The Net Zero Asset Managers Initiative," accessed January 26, 2023
  5. ↑ Climate Action 100+, "The Three Goals," accessed June 20, 2023
  6. ↑ Pensions and Investments, "Net Zero Asset Managers initiative to suspend activities in wake of BlackRock departure," accessed January 15, 2024
  7. ↑ This information is sourced from research performed by Ballotpedia staff.
  8. ↑ Ballotpedia, "Ballotpedia: Asset management data for state-administered pension funds across the 50 states," March 2023
  9. ↑ 9.0 9.1 9.2 NMPERA.org, “Board of Trustees,” May 14, 2024
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