New Mexico SIC to consider direct lending and distressed debt deals

The New Mexico State Investment Council will consider an investment pacing plan at its meeting next week.

The New Mexico State Investment Council is interested in making direct lending and distressed debt investments in the fiscal year 2019.

SIC’s direct lending portfolio is at 14.7 percent, and distressed debt is at 21.7 percent as of 31 March, according to a source who spoke with Private Debt Investor. Direct lending and distressed debt strategies, which fall in the sovereign wealth fund’s non-core fixed income bucket, have an allocation range of 20 percent to 40 percent.

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