TLDR:
- New Mexico State Investment Council added a life sciences private equity fund and an asset-based financing evergreen fund to its portfolio.
- The $54 billion state fund has been winding down its active private equity allocations.
The New Mexico State Investment Council has approved the addition of a life sciences private equity fund and an asset-based financing evergreen fund to its investment portfolio. With $54 billion in assets, the state fund has been reducing its active private equity commitments, with only $100 million remaining in its national private equity portfolio. The new additions align with the council’s strategy to diversify and grow its investment portfolio.
The life sciences private equity fund will provide exposure to opportunities in the rapidly evolving sector. It will allow the council to access innovative companies and technologies within the life sciences industry, potentially offering significant returns. On the other hand, the asset-based financing evergreen fund offers a more stable and long-term investment option, providing consistent cash flow through asset-backed financing arrangements.
The addition of these funds reflects the council’s proactive approach to managing its investments and seeking out new opportunities in the alternative investment space. By expanding its portfolio with these evergreen funds, the New Mexico State Investment Council aims to achieve greater diversification, enhance overall performance, and generate sustainable returns for its stakeholders.
