Institutional Investors Mandates & RFPs

New Mexico prepares absolute return search


The $14 billion New Mexico State Investment Council will be issuing an absolute return RFP this month after dropping the allocation to the asset class to 5% from 15% of total assets.

The size and the criteria for the mandate have not been made public. Earlier this year the permanent trust fund moved to a core satellite approach, which included putting in redemptions in the hedge fund portfolio. The move was also made to manage the State Investment Council's Vintage Classic account internally and is said to save New Mexico $200,000 a month