New Mexico SIC Allocates $175M to PE, Brings 2024 Alts Tally to Nearly $5B

The New Mexico State Investment Council (SIC) approved three allocations totaling $175M to private equity managers, bringing its year-to-date 2024 commitments to alternatives to nearly $5B according to Dakota data. 

In newly published materials from its September 24 meeting, the pension said it allocated $100M to buyout fund American Securities Partners IX. In the venture capital sleeve, it committed $60M to Builders VC Fund III and $15M to TK Media Tech Ventures. 

Private equity consultant Mercer assisted with the recommendations. 

Per Dakota data, the New Mexico SIC oversees approximately $56B in assets. As of June 31, the fund allocated approximately 7.96% to private markets with a policy target of 15%.

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