New Mexico State Investment Council, Santa Fe, committed up to $82.5 million to two private equity funds, said Charles Wollmann, spokesman for the $20.8 billion endowments.
The council at its Tuesday meeting committed $75 million to buyout fund TDR Capital IV. TDR Capital executives expect to invest in companies that are based in Europe or have substantial operations in Europe. The council previously made a €55 million ($60 million) commitment to TDR Capital III. Pavilion Alternatives Group, one of the council's alternative investment consultants, assisted.
Separately, the council committed up to $7.5 million, but not less than $5 million, from its private equity program for New Mexico-related investments to venture capital fund Kickstart Seed Fund IV. The fund is expected to invest in very new companies located in Utah and other Mountain States. The council's ultimate commitment will be up to 10% of the fund's total capital commitment provided that Kickstart Capital raises a minimum of $45 million. The fund's fundraising target is $65 million.