New Mexico SIC preps annual investment plan, potential alts investments

The $27 billion New Mexico State Investment Council is preparing its annual investment plan, even as the pension continues to add to its private market portfolios. According to spokesman Charles Wollmann, the investment plan is slated for the trustees’ June meeting. Overall, the fund’s performance was difficult in the first quarter, but overall the fund is well positioned relative to many of its public fund peers, he added. On June 11, the investment committee is considering allocations in two fixed-income funds and two private equity funds. The potential commitment amounts were not disclosed. The specialty credit funds being reviewed are the Oaktree Opportunities Fund XI and Silver Point Specialty Credit Fund II. The Oaktree fund was launched back in April and had aims of raising $15 billion, making it the largest distressed debt fund ever raised. Silver Point launched its second specialty credit fund in 2019 and has reportedly raised assets from other public pension funds systems. Back in May allocations totaling $150 million were made to non-core fixed-income strategies to alternatives funds recommended by Aksia. Linden Investors and One William Street Credit Opportunity Fund were selected to manage $75 million each. On the private equity side, where NMSIC is currently overweight from its 11% target allocation, officials are considering allocations to Menlo Ventures XV and Bridgepoint Development Capital IV. Last month, trustees allocated $75 million in private equity fund New Mountain, which was an add-on to a previous investment with the firm. The IPI Partners II, meanwhile, received a $100 million commitment within NMSIC’s real assets portfolio, with Townsend advising the pension system.

New Mexico SIC preps annual investment plan, potential alts investments

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