Government for the People
Public Governance of Essentials Protects New Mexican Families
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.
Take Action for the Public Good
Join New Mexicans across the state in speaking out against private equity buyouts of essential services and supporting public power initiatives.
Key Risks for NM: What the Private Equity Risk Report Shows
According to the Private Equity Risk Index, NM scores 100/100, placing it in “Very High" Category
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.
2. Workers and Jobs (Score: 76/100)
- 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.
3. Housing Risk (Score: 43/100)
- 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.
4. Public Pension Risk (Score: 90/100)
- 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.
When basic necessities are treated like short-term investments, the people who rely on them pay the price. Public governance aligns essential services with public interest.
Rayellen Smith, Indivisible Albuquerque
