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.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

The Life Settlement: Yield For The Investor And Cash For The Consumer

Mar 31 2015 | 6:48am ET

Investors are languishing in a yield-starved, low-interest rate environment, looking...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note