The New Mexico Educational Retirement Board (NMERB) has committed USD 50m to Prostar Capital’s second energy-infrastructure fundraise.
The USD 13.6bn institutional investor discussed the commitment to Prostar Energy Infrastructure Fund II as part of the agenda for its investment board meeting, held on the afternoon of 19 March. The allocation was later confirmed by Bob Jacksha, chief investment officer of NMERB.
While there is no current change of plans for its investment strategy in private markets, NMERB held a telephonic meeting rather than in person, Jacksha said in an email.
The limited partner’s pledge follows that of the Washington State Investment Board (WSIB), which signed a USD 200m commitment to the new fund in July 2019, having backed the maiden fund, Prostar Energy Infrastructure Fund I with USD 100m.