New Mexico Commits $100M To Hedge, Private Equity Funds

Nov 5 2007 | 12:32pm ET

The board of the $13 billion Public Employees Retirement Association of New Mexico last month committed $100 million to three alternative investment vehicles.

The board awarded a $35 million mandate to Canyon Value Realization Fund, a credit oriented hedge fund, and a $35 million mandate to Marathon Special Opportunities Fund, a global distressed securities hedge fund. Both commitments are being funded from the system’s fixed-income portfolio.

On the private equity front, the board committed $30 million to Natural Gas Partners Fund IX, a real asset partnership targeting investments primarily in upstream oil and gas companies. The system is also funding this commitment from its fixed income portfolio.

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