Institution: New Mexico State Investment Council
Headquarters: Santa Fe, US
AUM: $34.5 billion
Allocation to alternatives: 18.34%
New Mexico State Investment Council committed up to $60 million across three venture capital vehicles at its October investment council meeting, a contact at the sovereign wealth fund confirmed to affiliate title Private Equity International.
The commitments comprised $45 million to Menlo Special Opportunities Fund II, $10 million to CerraCap III and $5 million to KittyHawk Ventures Three.
The commitment made to the fund managed by CerraCap Ventures is up to $10 million but not less than $5 million. The total fundraise will determine the final commitment.
As illustrated below, NMSIC’s recent commitments have been to venture capital funds focused on investments in North America. The US sovereign wealth fund has a 12 percent target allocation to private equity that currently stands at 9.47 percent.