New Mexico Commits To Multi-Strat, Distressed Hedge Funds

Apr 26 2007 | 9:15am ET

The $11 billion Public Employees Retirement Association of New Mexico is committing a total of $64 million to two hedge funds and $20 million to a private equity real estate fund.

The system’s consultant, this month recommended a $32 million allocation to Black River Global Multi-Strategy Leveraged Fund, a multi-strategy hedge fund, and a $32 million allocation to King Street Capital, a distressed shop. Both commitments will be funded from the system’s fixed-income portfolio.

Also, the system is committing $20 million to Praedium Fund VII, a middle market opportunistic direct real estate partnership, which will also be funded from its fixed-income portfolio.


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