New Mexico State Investment Council backed funds from KPS Capital Partners and Phoenix Venture Partners at its September meeting, according to the system’s director of communications and legislative affairs, Charles Wollmann.
The Council committed up to $100 million to KPS Special Situations V, targeting $5 billion on a $6 billion cap, Wollman said. The pool focuses on control buyouts of distressed companies in North America, Europe and Asia-Pacific, Buyouts previously reported.
New Mexico SIC also committed $20 million to Phoenix Venture Partners III, a New Mexico-focused private equity program targeting $100 million on a $125 million hard cap. Phoenix Venture’s previous two funds focused on the energy, oil & gas, manufacturing, TMT, biotech /life sciences sectors, according to research from Private Equity International.
According to the system’s national private equity strategy, New Mexico SIC set an annual commitment pace of $300 million to $400 million, as of Aug. 27.