New Mexico SIC Pumps $460M into Private Markets Funds
The New Mexico State Investment Council, which oversees $50 billion in assets, added three funds to its private credit and private equity programs at its January board meeting.
The largest commitment went to Oak Hill Advisors Direct Lending, which received a $350 million mandate from Oak Hill Advisors’ Senior Private Lending Fund. The fund focuses on sponsored first-lien financing for upper-middle and upper-market companies with EBITDA of more than $75 million.
In private equity, KinderHook Capital Fund 8, a middle market buyout fund focused on acquiring and growing non-core divisions of corporate companies, transitioning entrepreneurial businesses, and family-owned businesses, received a $100 million allocation.
A $10 million commitment was made to Next Frontier Venture Fund IV, an early-stage fund that focuses on seed and Series A companies in the Rocky Mountain region. The fund invests in firms that provide corporate software, data, AI/ML, climate/deep tech, financial services, and cybersecurity/defense technology.