Institution: New Mexico State Investment Council
Headquarters: Santa Fe, US
AUM: $26.63 billion
Allocation to alternatives: 18.33%
New Mexico State Investment Council has committed $125 million across two private real estate vehicles, a contact at the sovereign wealth fund informed PERE.
The commitments comprised $75 million to KKR Real Estate Partners Americas III and $50 million to Blackstone BioMed Life Science Real Estate. New Mexico SIC has an existing relationship with both fund managers.
The $26.63 billion sovereign wealth fund has a 12 percent target allocation to private real estate that currently stands at 9.38 percent.
New Mexico SIC’s recent real estate commitments have tended to focus on North American vehicles targeting core and opportunity strategies. Paul Chapman serves as the director of real estate and real assets of the sovereign wealth fund.
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