New Mexico Boosts Hedge Fund Portfolio, Hires Claren Road, LIM

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.


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