Wednesday, 2 September 2015
Last updated 14 hours ago
Aug 2 2010 | 6:14am ET
The New Mexico Public Employees Retirement Association has increased its hedge fund investments by $90 million.
The pension fund on Thursday committed $30 million apiece to Claren Road Asset Management and LIM Advisors, Pensions & Investments reports. New Mexico also boosted its investments with four other hedge funds, adding $10 million each to its commitments to Angelo Gordon and Och-Ziff Capital Management, and $5 million each to Ascend Capital and Diamondback Capital.
Each of those four firms now manages between $42 million and $46 million for the pension.
The moves are just the first part of New Mexico’s plan to boost its alternative investments allocation from 15% to 20%. According to P&I, the pension plans to make additional hedge fund commitments—possibly on an interim basis—over the next six months.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…