New Mexico State Investment Council, Santa Fe, temporarily halted making alternative investment commitments until the $11.8 billion council adopts policies and procedures on placement agent disclosures, said Charles Wollmann, public information officer.
At the same time, council officials are taking a close look at the commitments the council made as a result of recommendations made by Aldus Equity Partners, which was terminated Wednesday as a result of its link to two men indicted in the pay-to-play scandal involving investments of the $122 billion New York State Common Retirement Fund, Albany. The council has made roughly 111 commitments since Aldus was hired in 2003, according to council records.
A search for a replacement for Aldus will not begin until a new policy on the use of placement agents by the council is in place. A new policy is expected to be discussed at the councils May 26 meeting.