New Mexico To Invest $250M In Hedge Fund Waterfall

May 27 2011 | 11:33am ET

A major New Mexico pension is using its large opportunistic credit allocation to load up on hedge funds.

The New Mexico Educational Retirement Board next month will approve $250 million in allocations to Waterfall Asset Management, HFMWeek reports. $150 million will go to the Waterfall Eden Fund, which invests in high-yield and distressed asset-backed securities, with the balance going to the Waterfall Victoria Fund, which invests in less liquid ABS.

In February, the $9.2 billion pension invested $150 million in GSO Capital Partners as part of its opportunistic portfolio, which does not count against its 10% target allocation to absolute return strategies.

New York-based Waterfall is an affiliate of MD Sass-Macquarie Financial Strategies.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...