New Mexico Educational Retirement Board (NMERB) and Aberdeen Standard Investments (ASI) have announced they will work closely together to invest in small and medium sized companies in Europe.
The co-operation entails a three year $100 million private equity program that will have the objective of acquiring companies where value is created through operating improvements, expanding the range of products and services offered and broadening the geographical focus of marketing and operations.
After an extensive search, NMERB selected ASI to manage this program. ASI’s experienced team and extensive network across Europe will provide NMERB with the capacity and experience to assess a wide range of investment opportunities. This will lead to a broadly diversified portfolio of private equity funds and co-investments acquired on both a primary and secondary basis.
Steve Neel, Deputy Chief Investment Officer, at NMERB said: “NMERB has been keen to allocate private capital to Europe for some time. We have conducted an extensive search to identify the most appropriate partner to help us source and select attractive European private equity investments. The choice of a like-minded partner is essential for the success of the program. ASI shares our strategic view on the European private equity market. We believe ASI’s long-term experience of managing dedicated separate accounts for some of the world’s largest pension funds makes them an ideal partner for NMERB.”
Stewart Hay, Global Head of Private Markets Client Strategies at Aberdeen Standard Investments, said: “NMERB were very clear on their chosen European strategy early on in their selection process. They were very focussed on investing in the smaller end of the European market where we see some of the most attractive opportunities. We are obviously delighted to have been selected by NMERB for this mandate after one of the most detailed due diligence exercises we have ever been through. We have enjoyed working with NMERB in developing this unique approach to the European private equity market.”
Aberdeen Standard Investments
New Mexico Education Retirement Board
CONTACT: Steve Neel
Notes to editors
About New Mexico Educational Retirement Board
The New Mexico Educational Retirement Board is a statutory entity that provides secure retirement benefits for our active and retired members from school districts, higher education and educational agencies. The New Mexico Educational Retirement Board (ERB) is an organization of approximately 65,000 active members, 32,000 inactive members and 35,000 retirees. The ERB manages one of the highest-ranking public pension plans in the country in terms of return on investment.
The New Mexico Legislature provides the employer’s portion of the monthly contributions to a member’s account. The ERB is a state agency, accountable not only to its members and its board, but also to the Legislature and governor. It is self-funded, meaning that the operating budget for the organization is provided from the return on investment of the fund. The ERB uses no money from the state’s general fund. Board members and agency personnel pride themselves on a conservative and careful approach to investing, and in-house management provides economy. Board members and ERB personnel who have built the organization take great pride in ERB’s sound actuarial management, its efficient operations and its member-oriented focus.
About Aberdeen Standard Investments
Aberdeen Standard Investments (ASI) is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
- With over 1,000 investment professionals we manage £557.1 billion (US$735.5 billion, as at 30 June 2018) of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest.
- We are high-conviction; long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance. We are resolute in our commitment to active asset management.
- ASI is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies.
- Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.
The details contained here are for information purposes only and should not be considered as an offer, investment recommendation, or solicitation to deal in any investments or funds and does not constitute investment research, investment recommendation or investment advice in any jurisdiction.
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The United Kingdom by Aberdeen Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority in the United Kingdom. Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered in Scotland No. 108419.