Subject: New Mexico SIC allocates $275m for private equity
From: "Devon Archer" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Mon, 4 Oct 2010 09:52:28 -0700

This might make sense to target.  Home town endowment makes investment
back into its state.

New Mexico SIC allocates $275m for private equity 

New Mexico's $14bn oil and gas endowment, a long-time investor in
private equity, hasn't made a commitment since early 2009. SIC wants to
commit to six funds over the next 12 months.

Christopher Witkowsky <mailto:[email-masked]> 

The New Mexico State Investment Council, which manages about $14 billion
in oil and gas assets, has $275 million to commit to private equity in
fiscal 2011. 

SIC wants to make commitments to six funds, according to a spokesperson.
New England Pension Consultants, the endowment's interim private equity
advisor, is expected to present one or two recommendations at the SIC
meeting in November, the spokesperson said. 

SIC's long-term private equity target is 9 to 12 percent, and its actual
allocation is slightly under 10 percent, the spokesperson said. 

SIC started investing in private equity in 1989, but hasn't made a
commitment since early 2009. The endowment curtailed making commitments
to private equity last year after its private equity advisor, Aldus
Equity, was indicted in a wide-ranging pension pay-to-play scandal.
Aldus' founder, Saul Meyer, eventually pleaded guilty in the
investigation. 

Gary Bland, SIC's former chief investment officer, resigned last October
for undisclosed reasons. An article by the Associated Press at the time
quoted council member Pat Lyons that Bland's resignation was under
pressure related to the scandal. 

Meanwhile, the New York investigation of the pay-to-play situation may
ensnare the state's former comptroller. It was widely reported this week
that Alan Hevesi has offered to plead guilty to a felony in the
investigation. 

Hevesi, who served as state comptroller from 2003 to his resignation in
2006, could make his plea as early as next week, according to an article
from Bloomberg. 

Henry Morris, Hevesi's former political consultant, was one of the first
people charged in the investigation for allegedly masterminding a scheme
to collect sham finder's fees from private investment firms in exchange
for directing pension money their way. The pension system's former chief
investment officer, David Loglisci, pleaded guilty in the probe and is
cooperating. At least four others, including Meyer, have also been
charged as part of the three-year old investigation.