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Sign in Sign up for a FREE subscriptionUniversity of New Mexico concludes search for investment consultant
IREI has learned that the University of New Mexico has appointed NEPC Investment Consulting to manage its Consolidated Investment Fund (CIF), a pooled endowment fund that was valued at almost $460 million as of June 30, 2019. CIF has an 8 percent target allocation to the real estate asset class.
The hire was the result of a request for proposal (RFP) listed on the university’s procurement site in November 2019.
The contract, which went into effect in March, will be valid for three years and will automatically renew for two successive one-year periods afterward, according to the RFP.
The previous investment consultant was Aon Hewitt Investment Consulting, which was eligible to rebid. It was unknown at the time of publication whether this took place, as the pension fund could not be immediately reached for comment.
NEPC is one of the industry’s largest