Bob Jacksha The $7 billion New Mexico Educational Retirement Board is considering seeking managers for bank loans and funds of hedge funds, as first reported by iisearches. The exact mandate sizes have not been determined. NEPC, the fund's consultant, has been advising clients to tap into a variety of credit strategies, including bank loans, to take advantage of the market dislocation.
In the funds of funds space, New Mexico terminated Austin Capital Management from a $113 million strategy due to its exposure to Bernard Madoff. The firm is now closing due to steep redemptions (MML, 5/4). The fund is also getting out of its $44 million commitment to Topiary Fund Management, DB Advisors' funds of funds unit, ...
from moneymanagementletter.com
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