New Mexico State Investment Council, Santa Fe, hired StepStone Group as private equity consultant for its $1.3 billion portfolio, said Charles Wollmann, director of communications for the $14.7 billion fund.
NEPC, the system’s general consultant, had been interim private equity consultant after the council terminated Aldus Equity Partners in April 2009 as a result of allegations made against Aldus executives in connection with the pay-to-play scandal involving investments in the $140.6 billion New York State Common Retirement Fund, Albany.
Both RFPs were issued in December.
Separately, the council invested $100 million in Prudential Real Estate Investors’ $11 billion open-end real estate fund and $50 million in EIG Energy Fund XV, a private equity and mezzanine fund, he said.
Also, the council decided to sell the properties in two real estate joint ventures: Beal SIC Holdings and Northstar SIC Holdings. Mr. Wollmann declined to provide details of the sales.
The council’s overall investment return was 13.9% for 2010; its land grant trust returned 14.5% and its severance trust returned 12.8% for the year.