New Mexico Pension Hires Fund Of Funds, Names P.E. Finalists

Apr 21 2010 | 2:23am ET

The New Mexico Educational Retirement Board is moving ahead with the restructuring of its alternative investments portfolio, hiring a new fund of hedge funds and continuing its search for a new private equity consultant.

The $8.7 billion pension has hired GAM Trading to run a $150 million absolute-return portfolio, Pensions & Investments reports. NMERB had cut ties with its existing funds of funds, Austin Capital and Deutsche Bank’s Topiary business, going so far as to sue the former over losses suffered in the Bernard Madoff Ponzi scheme.

The pension is also intensifying its search for a replacement for Aldus Equity Partners, its former private equity consultant, which was canned in June after Aldus was implicated in the New York pension pay-to-play scandal. The board plans to interview the three finalists, NEPC, Meketa Investment Group and Sun Mountain Capital, next month.

NMERB will waste no time in picking, either: It plans to select from the three at the same May meeting.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...