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New Mexico’s Sovereign Wealth Fund Brings New CIO Home From Hawaii

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The New Mexico State Investment Council, the state’s sovereign wealth fund, announced Tuesday the appointment of Kristin Varela as CIO. The role will bring Varela back to her native state, having served as CIO of the Employees’ Retirement System of the State of Hawaii since 2023. Varela highlighted her roots in the state as part of the announcement. “New Mexico shaped who I am, and I’m proud to re...
This appointment of Kristin Varela as CIO marks a return to her home state and a continuation of her career in investing. The New Mexico State Investment Council, which manages excess revenues from the state's oil and gas production, has been making headlines for its innovative approaches to investment management, such as converting oil revenue into universal childcare and delivering in-state investment programs to catalyze industries of the future. Varela's appointment may reflect an emphasis o...