Wexford Wins $35M New Mexico Mandate

Dec 27 2010 | 2:17am ET

Farallon Capital Management's loss is Wexford Capital's gain. The New Mexico Public Employees Retirement Association has handed about half of the money it yanked from the former into the latter's Spectrum Fund.

The allocation to Wexford will be funded by the beginning of February, the $11 billion public pension said.

PERA pulled $78 million from Farallon's Institutional Partners fund due to departures "material to the investment of the hedge fund," Joelle Mevi, chief investment officer, told Pensions & Investment.

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