New Mexico Public Employees Retirement Association, Santa Fe, hired Acadian Asset Management to run a $270 million international large-cap equity portfolio, according to information sent in an email by Jodi Trujillo, spokeswoman for the $15.4 billion pension fund.
The hire follows an invitation-only search sent to 11 managers. Funding came from terminating RBC Global Asset Management, which ran $114 million in a small-cap growth equity portfolio, and KBI Global Investors, which managed $169 million in a Europe, Australasia, Far East value equity portfolio. The managers were terminated as part of a restructuring of the pension plan's $6.7 billion global equity portfolio.
Separately, pension officials committed $50 million to Patria Private Equity Fund VI, which would make control and minority investments in middle-market companies in Brazil, Chile, Peru and Colombia. This is a new relationship with Patria Investments.