NMSIC approves $200m in commitments to two real estate funds

The US sovereign wealth fund has backed two real estate funds.

Institution: New Mexico State Investment Council
Headquarters: Santa Fe, US
$28.44 billion
Allocation to alternatives: 19.15%

New Mexico State Investment Council has approved commitments of $125 million to Cerberus Real Estate Debt Fund and $75 million to Ares European Property Enhancement Partners III, a contact at the sovereign wealth fund informed Private Equity International.

The $28.44 billion US sovereign wealth fund has a 12 percent target allocation to private real estate that currently stands at 9.48 percent.

As illustrated below, a majority of the sovereign wealth fund’s recent commitments have been to value added and opportunity funds in North America and Europe.

Platinum subscribers may click here for the sovereign wealth fund’s full profile, including key contacts, allocation strategy and fund investments.