LP News

The pension plan is preparing to sign off on a new mandate that would quadruple its co-investment pace over the next three years.

New Mexico SIC is not in need of liquidity as it continues to see strong inflows from oil revenues in the state. However, it continues to push its managers to move toward exiting assets, especially in relation to funds living past their contractual terms.

The sovereign wealth fund will take formal recommendations to the board next February, but the investment staff is prepared to suggest incremental cuts to the asset class.

The evidence suggests many LPs have, or are developing, an appetite for investing directly in alternative asset managers.

The pension will keep its pacing in line with previous years, but aims to increase its commitments to venture capital and growth equity assets.

The pension fund increased its private equity target range in the hopes of giving investment staff the leeway to make up a 5.5% shortfall in its allocation.

The shift comes shortly after Nevada Public Employees’ Retirement System elected to increase its overall private markets allocation to 15% from 12%.

If the measure goes through, it would be the second time the pension has cut its private equity target in the last three years, as the LP aims to improve its liquidity position.

University endowments have faced significant adversity this year from both macroeconomic headwinds and federal targeting. What are the allocators doing to fight back?

The LP expects cash from its PE investments to nearly double, and plans to potentially double its pacing, accordingly, increasing geographical distribution.