US - The New Mexico Educational Retirement Board (NMERB) is searching for a new CIO as the fund looks to embark on an "aggressive" alternatives strategy.
Jeff Riggs, deputy director at the US$8bn NMERB told Global Pensions the fund had recently completed an asset allocation plan which implemented an investment strategy which included private equity investments, absolute return and real estate.
"We are seeking an individual to lead implementation of our asset allocation plan with extensive experience in alternatives and any other areas that can assist the NMERB achieving our investment goals," said Riggs.
"NMERB will proceed with the search but desires to fill the position as quickly as possible," he added.
Riggs said former CIO Frank Foy had expertise in more traditional investment strategies and extensive procedural experience focused on New Mexico processes.
He said Foy would continue contributing to the investment team in his areas of expertise.
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