University of New Mexico, Albuquerque, is conducting an asset allocation study of its $182 million endowment fund, said John Maes, assistant treasurer. Consultant William M. Mercer is reviewing all asset classes. The fund may invest 5% of total assets in private equity and reduce its overall equity allocation to 65% from 70%. The fund has 30% of assets in fixed income and cash, he said.
Mr. Maes said an RFP for a private equity manager likely will be issued after Feb. 18, when the study is completed.