Institutional Investors

A new day dawns in New Mexico


Trustees of three plans find enchantment in a mix of hedge fund approaches post Madoff and placement agent scandals

By Susan Barreto

Joelle Mevi

The three main investment funds in the state of New Mexico have been tactical trailblazers in the area of hedge fund investing. With a combined $3 billion set aside for hedge funds, the $12 billion New Mexico Public Employees’ Retirement Association, $9 billion New Mexico Educational Retirement Board and the $15 billion New Mexico State Investment Council (SIC) have each faced their own challenges but are now finalising their stakes in a variety of absolute return strategies.

This year each fund is shifting its individual hedge fund portfolios and implementing