New Mexico SIC Allocates $680M to Alts, Mulls Public Debt RFP

The New Mexico State Investment Council (NMSIC) approved seven allocations to alternative strategies, totaling $680M, according to materials from the August 20 investment committee meeting. 

NMSIC allocated $150M to Frazier Healthcare Growth Buyout Fund XI and $100M to Veritas Capital Fund IX within the middle-market buyout sleeve of private equity. In the VC sleeve, NMSIC committed $30M to Outlander 3 Magellan, $50M to Roadrunner Fund I, and $50M to Frontier Fund I Alpha. 

In private credit, NMSIC committed $150M to Pemberton Strategic Credit Fund IV, and in real assets, it allocated $150M to Hull Street Energy Partners III.

Consultants Mercer and Meketa assisted with the recommendations. 

RVK also presented an informational outline for an upcoming RFP for one or more investment managers to manage a multi-asset credit debt strategy for a portion of NMSIC’s credit plus pool of its public market fixed income allocation. 

Finally, NMSIC also approved renewing the contract of Parametric, which provides non-discretionary advisory services for portfolio rebalancing.

As of July 31, 2024, the New Mexico State Investment Council has approximately $56.1 billion in assets under management. 

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