Government for the People

Essential services like healthcare, utilities, housing, and other necessities should be governed for people — not short-term profit. Public oversight keeps services affordable, accountable, and reliable for working families across New Mexico.

Why public governance matters

Public governance means making policy choices that prioritize long-term public welfare instead of maximizing short-term returns. For essentials like healthcare, utilities, and housing, this approach delivers:

• Affordability: Public control and regulation can prevent steep price hikes and surprise rate increases.
• Accountability: Elected officials and public agencies answer to residents — not distant investors.
• Reliability: Infrastructure and services are maintained to serve communities, not just to cut costs.
• Equity: Policy can explicitly correct historic disparities and expand access for rural and tribal communities in New Mexico.

Here are some of the most alarming findings:

1. Health Care Risks (Score: 100/100)

• 24.4% of hospitals in New Mexico are controlled by private equity firms. PE State Risk Index+1
• 35.3% of nursing homes in the state are also PE-controlled. PE State Risk Index+1
• The average Medicare patient survey rating of PE-controlled acute-care hospitals in New Mexico is low (2.6 out of 5), and readmission rates are relatively high (14.4%). PE State Risk Index
• For nursing homes, the average quality rating (Medicare) is just 2.1 (out of 5), and there are many substantiated complaints per facility. PE State Risk Index
• In some metropolitan areas in NM, a single PE firm controls over 30% of the physician specialties, concentrating power in healthcare in a way that reduces competition and choice. PE State Risk Index 

These health-care risks show how PE ownership can undermine quality, access, and accountability in critical institutions.

• On average (2018–2022), 8.3% of New Mexico’s private-sector workforce is employed by companies controlled by private equity. PE State Risk Index+1
• That share grew 49.2% over that period — showing a rapidly increasing PE presence in the state’s economy. PE State Risk Index
• Between 2015 and 2022, 1,844 layoffs were recorded at PE-controlled companies in New Mexico. PE State Risk Index 

This suggests that PE firms in NM do not only control health-care institutions, but also significantly impact employment — with potentially destabilizing effects for workers.

• From 2018 to 2022, 9.6% of homes in New Mexico were purchased by medium, large, or mega investors (i.e., not small local landlords). PE State Risk Index
• That share is increasing: the change over that period was +19.4%, indicating growing investor activity in the housing market. PE State Risk Index 

Large-scale investor purchases can lead to rent pressures, reduced affordability, and less stable homeownership for working families.

• About 22.4% of New Mexico’s public pension assets are invested in private equity funds. PE State Risk Index
• The state provides zero private equity fee disclosure, meaning it's not fully transparent how much is paid in fees, carried interest, or related PE fund costs. PE State Risk Index
• There is also no “responsible contractor” policy in place to ensure that PE-owned companies comply with labor, environmental, or health standards. PE State Risk Index 

This level of exposure means that pensioners’ money is deeply tied up in high-risk, opaque investments — putting long-term retirement security at risk.