New Mexico State Investment Council, Santa Fe, committed $75 million to NGP Natural Resources X, a private equity fund investing in natural resources, said Charles Wollmann, spokesman for the $14.4 billion investment council.
The NGP commitment is not to exceed 20% of the fund's total committed capital and is contingent on final negotiations of terms and conditions, and completion of appropriate paperwork.
Separately, the council determined the allocation of at least $700 million assigned to five managers selected in October to run small/smidcap equities. BlackRock will manage 14% of the portfolio; Cortina Asset Management, 25%; Donald Smith & Co., 24%; Denver Investment Advisors, 14%; and Seizert Capital Partners, 23%.
BlackRock will manage a small-cap core portfolio; Cortina will run small-cap growth; Denver, midcap growth; Donald Smith, small-cap value; and Seizert, midcap core.