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

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

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

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of