# New Mexico Educational Retirement Board New Mexico Educational Retirement Board is a Pension Fund based in Santa Fe, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Santa Fe, United States - **Region:** North America - **Address:** 5211 Las Soleras Drive, Santa Fe, NM 87507, United States - **Founded:** 1957 - **Assets under management:** ~$14.9 billion (Altss estimate) - **Website:** erb.nm.gov - **LinkedIn:** https://www.linkedin.com/company/new-mexico-educational-retirement-board ## Regulatory record - **Reports private funds:** No ## About Chartered in 1957, the New Mexico Educational Retirement Board provides retirement security for more than 63,000 active teachers, administrators, and staff, plus another 110,000 inactive members and beneficiaries. The agency operates from Santa Fe, with a district office in Albuquerque. Jacksha's team constructs a portfolio that reaches well beyond a typical pension's core fixed-income and public-equity allocation. Asset classes include buyout and growth equity, natural resources, timber, agriculture, venture capital at seed and early stages, venture debt, mezzanine, distressed debt, secondaries, and CLOs. The fund accesses these markets through a mix of direct fund commitments, co-investment vehicles, and specialized partnerships — including Tiverton AgriFinance II, Blue Road Capital II, and Tiverton Ag Legacy Holdings II, which target farmland and agricultural credit strategies. NMERB's governance is handled by a Board of Trustees chaired by H. Russell Goff, with Mary Lou Cameron as vice chair. The fund is a member of the Council of Institutional Investors and Climate Action 100+, and participates in the Net Zero Asset Managers initiative, signaling a formal posture on climate engagement across its portfolio. In recent years, the board has maintained steady staffing under Executive Director David Archuleta and has not undergone major publicly disclosed mandate overhauls or CIO transitions. What structurally separates NMERB from its peers is its integration of a direct natural-resources portfolio — including timber and agriculture composites — alongside a broad alternatives program. Many U.S. public funds outsource nearly all private-market exposure to consultants and gatekeepers; NMERB blends in-house real-asset holdings with fund commitments, giving the investment team a direct operational lens on a subset of its inflation-sensitive assets. ## Sectors - Natural Resources - Agriculture - Timber - Venture Capital - Private Equity - Private Credit - Real Assets - Secondaries & Special Situations ## Offices - 8500 Menaul Blvd. NE, Suite B-450, Albuquerque, NM 87112, United States ## People - Bob Jacksha — Chief Investment Officer - David Archuleta — Executive Director - H. Russell Goff — Chair of the Board of Trustees - Mary Lou Cameron — Vice Chair of the Board of Trustees ## Questions ### Who runs investment decisions at New Mexico Educational Retirement Board? Chief Investment Officer Bob Jacksha leads the investment program. He reports to an 11-member Board of Trustees, currently chaired by H. Russell Goff with Mary Lou Cameron as vice chair. The board sets policy and approves asset allocation ranges, while the internal investment team executes the strategy across public markets, private markets, and real assets. ### How does NMERB access private markets — fund commitments, direct deals, or co-investments? NMERB uses a hybrid model. It commits to external private-market funds across venture capital, buyout, growth equity, private credit, distressed debt, and secondaries. It also participates in direct co-investments and has dedicated vehicles for natural resources, including timber and agriculture composites. Named partnerships include Tiverton AgriFinance II and Blue Road Capital II. ### What is NMERB's exposure to natural resources and real assets? The fund maintains a direct natural-resources portfolio that covers timber, agriculture, and related credit strategies. This includes a timber composite and an agriculture composite held directly by the fund, alongside commitments to specialized vehicles like Tiverton Ag Legacy Holdings II. The in-house exposure gives NMERB a differentiated inflation hedge relative to peers that own real assets only through commingled funds. ### How is NMERB governed, and who sits on the board? An 11-member Board of Trustees governs the fund. Members represent educators, administrators, and public stakeholders. H. Russell Goff serves as board chair and Mary Lou Cameron as vice chair. The board oversees the system's strategic direction and fiduciary obligations, while day-to-day operations are managed by Executive Director David Archuleta and his investment, benefits, and operations teams. ### Is NMERB involved in climate or ESG initiatives? NMERB is a member of Climate Action 100+ and participates in the Net Zero Asset Managers initiative, aligning its investments with broader engagement on greenhouse gas emissions and climate-risk disclosure. The fund's membership in the Council of Institutional Investors also places it in the mainstream of governance and stewardship-focused U.S. asset owners. ### How does NMERB's investment performance compare to other public pension plans? The fund is regularly cited as one of the top-performing U.S. public pension systems by return on investment. The plan serves roughly 63,000 active teachers and staff plus 110,000 inactive or retired participants across New Mexico. Specific return figures and rankings are published in the board's annual actuarial and investment reports. ## Related profiles - [State of Delaware Office of Pensions](https://altss.com/profile/state-of-delaware-office-of-pensions) - [Delta Air Lines, Inc.](https://altss.com/profile/delta-air-lines-inc) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/new-mexico-educational-retirement-board Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology