Funds of Hedge Funds Institutional Investors

New Mexico Educational Retirement taps GAM to add $150m for funds of funds


The New Mexico Educational Retirement Board in Santa Fe is negotiating with GAM Trading to fill a $150 million mandate.

The New Mexico fund will look to hire an additional fund of hedge funds in the future, according to Bob Jacksha, chief investment officer of the $8.7 billion retirement fund.

The new GAM trading mandate will be part of the absolute return portfolio.

The fund of hedge funds allocation has been lower than the target asset mix for some time as trustees redeemed from Austin Capital Management, following the firm's exposure