New Mexico SIC Commits $210M to Private Equity Funds

The $43 billion New Mexico State Investment Council (SIC) in Santa Fe added three funds to its private equity portfolio.

KPS Capital Partners, which specializes in controlling equity investments in manufacturing and industrial companies, received two commitments. The KPS Special Situations Fund VI was approved for $100 million, its fourth commitment to the fund series.

The moves follow $500 million in commitments across private equity, fixed income/tactical allocation strategy and real estate portfolios in April.

A second allocation of $50 million was approved to the KPS Special Situations Mid-Cap Fund II, which is a fund series that was raised by the firm to house the smaller companies that the flagship fund was unable to allocate to due to size.

The fund focuses on corporate divestitures and carve-outs, private sales from families, entrepreneurs and financial owners, and acquisitions through corporate restructurings.

The third allocation of $60 million was to Silicon Valley firm Wing Venture Management, which focuses on artificial intelligence-first enterprise technology companies.