New Mexico ERB Redeems Assets

February 18, 2009

Citing ties to alleged Ponzi schemer Bernard Madoff, the $6.6 billion New Mexico Educational Retirement Board (NMERB) will redeem its assets from Austin Capital Management (ACM), said Bob Jacksha, CIO with the fund. NMERB invested $130 million with the firm in an absolute return strategy. This is not the first spot of trouble for ACM since the Madoff scheme came to light. Earlier this month the Massachusetts Pension Reserves Investment Management board (PRIM) removed the firm from…

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