New Mexico State Investment Council issues bank loan manager RFP
By Arleen Jacobius | January 3, 2013 4:02 pm
New Mexico State Investment Council, Santa Fe, is searching for one or two managers to run up to $150 million in active floating rate bank loans for the council's $56 million real return portfolio, said Charles Wollmann, spokesman for the $16.1 billion endowment, in an e-mail.
The Council is building up its 10% allocation to real return, Mr. Wollmann said.
The council wants to be advised on when specific segments of the floating rate bank loan markets are particularly attractive, and the selected firm or firms would manage an opportunistic portfolio of those assets.
The RFP is on the council's website. Proposals are due Jan. 22; a decision is expected at the council's March 26 meeting.
Separately, the council approved a $50 million commitment in Berkshire Multifamily Value Plus Fund III, a multifamily real estate fund run by Berkshire Property Advisors, according to Mr. Wollmann.
The council also expanded the investment criteria for its co-investment sidecar in Asia Alternatives Capital Partners III, which can now invest in funds as small as $200 million, down from the old floor of $400 million, Mr. Wollmann wrote.
The council committed $50 million to Capital Partners III and $25 million to a co-investment sidecar in the first quarter of 2012.