SANTA FE — A committee has recommended that the state Investment Council hire a Santa Fe investment company to oversee $60 million in venture-capital investments in New Mexico companies.
The Private Equity Investment Advisory Committee on Wednesday recommended Sun Mountain Capital to replace Fort Washington Investment Advisors Inc. of Cincinnati, Ohio, as the fund's manager.
State investment officer Gary Bland asked Fort Washington to resign in July after a falling out involving proposed investments in two space companies in southern New Mexico. Fort Washington remains in charge of $46 million already invested in several New Mexico companies, however.
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