New Mexico SIC approves $75m commitment to Bell Institutional Fund VII

The sovereign wealth fund has backed a North America focused fund.

Institution: New Mexico State Investment Council
Headquarters: Santa Fe, United States
AUM: $26.85bn
Allocation to alternatives: 21.13%
Bitesize: $50-$100m

New Mexico State Investment Council announced a commitment of $75 million to Bell Institutional Fund VII, a contact at the pension informed PERE.

The $26.85 billion sovereign wealth fund has a 12.0 percent target allocation to private real estate that currently stands at 9.75 percent.

As illustrated below, NMSIC’s previous five real estate commitments have comprised of two vehicles each focused on value-add and core-plus funds, with one vehicle pursuing an opportunity investment strategy.

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