New Mexico SIC Commits $250M to Private Credit

The New Mexico State Investment Council approved two commitments to private credit totalling $250 million per June 25 meeting materials. 

$50 million was allocated to Frazier Life Sciences Public Fund. FLS Public Funds is a growth oriented strategy that aims to make long-only equity investments in small to middle market businesses, including biopharmaceuticals.

Also approved was the commitment of $200 million to AB CarVal Asset-Based Fund. Managed by AB CarVal, the fund is a global income-focused asset-based strategy dealing primarily with primary specialty finance segments.

RVK assisted.

As of April 30, 2024, NMSIC is valued at $52.6 billion. 

For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!