New Mexico State Investment Council, Santa Fe, committed $100 million each to three managers, said Charles Wollmann, director of communications for the $16.9 billion fund, in an e-mail.
ING Investment Management was hired for a floating-rate debt mandate. ING was selected following an RFP launched in January for the floating-rate debt strategy, which is part of a 10% real-return allocation added in July 2011.
The council also invested in Brookfield Infrastructure II, managed by Brookfield Infrastructure, which is a subsidiary of Brookfield Asset Management, and the IFM Global Infrastructure Fund, managed by Industry Funds Management. Both commitments were made to fill out the council's approximate $285 million infrastructure allocation.
R.V. Kuhns, the council's general investment consultant, assisted with the ING hire. The Townsend Group, the Council's real estate and infrastructure consultant, assisted with the infrastructure commitments.
At a March 26 meeting, the council also committed $75 million to Affinity Asia Pacific IV, a middle-market private equity fund managed by Affinity Equity Partners.
Separately, the council approved moving the $480 million internally managed large-cap equity portfolio to an existing index strategy managed by Northern Trust. The process will take place in the coming months, Mr. Wollmann said. “This transfer is part of ongoing strategic restructuring of staff resources at the council level,” he wrote.
