The $13 billion State of New Mexico Public Employees Retirement Association last month committed a total of $115 million in a trio of hedge and private equity funds. 

The fund approved a $35 million allocation to Sandell Asset Management’s Castlerigg Partners, an event-driven hedge fund, to be funded from fixed-income; $25 million to Onex Partners III, a p.e. fund investing in mid-market buyouts, to be funded from equities; $30 million to Silver Point Capital, a p.e. distressed debt fund investing in mortgage opportunities, to be funded from equities.

The fund has also extended the contract of its alternative investment consultant, Cliffwater, for another two years.