New Mexico Boosts Private Equity, Exits Pendragon Fund

Aug 5 2008 | 12:15pm ET

The $13 billion State of New Mexico Public Employees Retirement Association is upping its commitments to private equity funds while it bids farewell to one hedge fund manager.

The plan is committing $25 million to Lincolnshire Equity Fund IV, a middle-market U.S. buyout fund; €17 million (approx $25 million) to Nordic Capital Fund VII, which is focused on investments in Northern Europe; and $25 million, plus fees, to Morgan Stanley Real Estate Fund VII Global.

On the hedge fund front, the plan is redeeming its investment in the Pendragon (Lancelot) Fund, a London-based event-driven hedge fund focused on small- to mid-cap European companies. The fund committed $35 million to Pendragon in November.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...