Institutional Investors

New Mexico state culls the majority of its FoHFs

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The New Mexico State Investment Council issued a detailed report of its numerous redemptions and liquidations from 2008 through 2011, which ultimately resulted in an 8% allocation to hedge funds and restructuring of investment partnerships across the programme.

Now there are only three remaining active hedge fund managers in the portfolio: AAM High Desert Fund; Crestline Enchantment Fund and Mariner Matador Fund. The $15 billion retirement fund has had redemptions totalling more than $1 billion and the portfolio at year-end was just over $700 million.

Funds that were part of the liquidations since 2008 were: Altair Stars Fund;