The New Mexico State Investment Council has invested a total of US$205 million in two renewable energy Funds managed by Carlyle Group and Ares Management. 

The council has committed about US$105 million in the Carlyle International Energy Partners II of which US$65 million is for the main fund and a US$40 million is for the co-investment managed by Carlyle Group.

The council has also invested US$100 million in the North American energy fund Ares Energy Opportunity Fund that is managed by Ares Management. The fund seeks to invest in upstream and midstream energy companies.