New Mexico State Investment Council is reportedly planning to commit $500m to private equity funds next year.
New Mexico SIC could allocate $750m in new commitments over the next 18 months after a year of strong distributions, which pushed its private equity portfolio further below its 10 per cent target, said Dow Jones.
The investment council has also made a commitment to a fund managed by TDR Capital, said the report.
Funds backed by New Mexico include Nordic Capital’s Fund VIII and Platinum Equity Partners’ third fund, which has received $75m from the LP.
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