New Mexico Commits To Three Alternatives Funds

Mar 21 2007 | 10:37am ET

The $11 billion Public Employees Retirement Association of New Mexico is committing a total of $90 million to a trio of hedge and private equity funds.

On March 13, New Mexico’s consultant, Cliffwater, recommended a $30 million investment with Satellite Fund II Class B, a multi-strategy hedge fund, and $30 million allocation to GoldenTree, a multi-strategy credit shop. Both mandates are funded from the system’s fixed-income portfolio.

Also, Cliffwater recommended a $30 million allocation to Sun Capital Partners V, a private equity buyout fund, to be funded from its equities portfolio.

All three investments are subject to approval of the firms’ legal documents by the system’s counsel.


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