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The retirement system was scheduled to consider domestic large-value equity alternatives to incumbent GAMCO Investors due to concerns over succession planning.
The $50 million in total commitments is subject to board approval next week.
The university is searching for its next investment head as its senior v.p. and cio will retire at the end of the third quarter after more than two decades of service.
In an attempt to fortify New Mexico’s pipeline for nurses, teachers and social workers, state lawmakers appropriated $170 million over a recent three-year period to expand higher education faculty endowments. But some of that money has not been used as intended and delays in implementation have blunted its intended impact, according to a new legislative report released Thursday.
An RFP was issued in May and the district plans to invest $20 million and $200 million under the guidance of the selected firm.
The transaction is expected to close early next year.
The plan will seek a global equity manager to equitize upcoming proceeds.
Interested firms must be raising at least $300 million in commitments.
The plan will reduce its domestic large-cap growth exposure by eliminating an existing manager.