New CIO: Varela to Lead NM's $71B Fund
Santa Fe News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
New Mexicos State Investment Council appoints Kristin Varela, a Pecos High School graduate and first woman CIO, to oversee its seventy-one billion dollar sovereign wealth fund. Varela, currently Hawaiis CIO, will start in June, bringing deep roots and a finance degree. The fund, built from oil and gas revenues, is projected to deliver forty-two billion dollars to New Mexico over ten years. The council plans to double staff amid growing inflows and salary boosts. Varela, ready for volatile markets, will balance the portfolio to ensure steady returns despite global economic challenges and potential oil price surges.
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