New Mexico State Investment Council, Santa Fe, committed $75 million to CCMP Capital Investors III and $50 million to MetLife Core Property Fund, said Charles Wollmann, spokesman for the $18 billion endowment.
CCMP Capital Advisors plans to invest in middle-market buyout and growth equity investments in sectors including consumer, industrial, health care and energy, according to materials on the council’s website. Private equity consultant LP Capital Advisors assisted.
MetLife Core Property Fund is MetLife Real Estate Investors’ first open-end core fund, which has been seeded with a $1 billion real estate portfolio, according to a report by the Townsend Group, the council’s real estate consultant. The fund’s terms include a two-year founding investor lockup period.
Separately, the council hired its first beta overlay manager, Clifton Group, following an RFP in August. General investment consultant R.V. Kuhns & Associates assisted.
The council also terminated Schroder Investment Management, which managed a $130 million international large-cap growth equity portfolio, because Virginie Maisonneuve, senior portfolio manager and head of global and international equities at Schroders, resigned Nov. 30. Schroders’ assets will be divided equally between existing large-cap equity managers T. Rowe Price, which runs core, and MFS Investment Management, growth. The council selected Russell Investments to manage the transition.
