Case Study: Public Employees Retirement Association of New Mexico aligns manager interests with Nasdaq eVestment TopQ+

Public Employees Retirement Association of New Mexico uses eVestment to manage $15B portfolio with PME analysis

Public Employees Retirement Association of New Mexico (PERA), a $15 billion pension plan, faced the challenge of efficiently identifying true alpha generation in its private market fund managers to avoid overpaying for beta exposure. Their small team lacked a centralized, consistent tool to conduct Public Market Equivalent (PME) analysis and compare managers or evaluate individual deals within portfolios. This made their due diligence process onerous and lacking in depth prior to using Nasdaq eVestment's TopQ+ platform.

The solution was implemented by Nasdaq eVestment with its TopQ+ service, which provided PERA with a centralized and intuitive platform for PME analysis. This allowed the team to efficiently compare manager track records against public benchmarks and dive into individual deal-level data to understand value creation. As a result, PERA gained operational efficiencies and the data-driven insights needed to have better conversations with managers about aligning fee structures with alpha generation, empowering them to make more confident investment decisions.

Public Employees Retirement Association of New Mexico