PNM Resources Inc., Albuquerque, N.M., will interview four finalists by late June in its search for a private equity fund-of-funds manager to run $20 million, said Edmond Jeung, director of trusts and corporate investments. Officials at the $325 million pension plan will fund the new allocation by reducing assets with domestic equity managers.
Separately, officials still plan to conduct a shortlist search for a hedge fund manager before the end of the year, but have raised the allocation to $30 million from $18 million, Mr. Jeung said.
