NMSIC commits $550m to real estate

The US sovereign wealth fund committed $550m to real estate.

Name: New Mexico State Investment Council
Headquarters: Santa Fe, US
AUM: $52 billion
Allocation to private debt: 7.01%

New Mexico State Investment Council has approved a total of $550 million commitments to real estate funds, a contact at the sovereign wealth fund confirmed to PERE.

NMSIC committed $300 million to Carlyle Realty Partners X, $100 million to Jadian Real Estate Fund II and $150 million to WCP NewCold III.

NMSIC’s commitment to Carlyle Realty Partners X can be seen as a re-up on the existing relationship with the Carlyle Realty Partners Fund series with previous commitments to funds VIII and IX. Fund X, which is expected to focus on the multifamily/residential and industrial sectors, is targeting a mid-teens net IRR.

The commitments to Jadian Fund Real Estate Fund II and WCP NewCold III are new relationships for NMSIC and are both targeting a high-teens net return.

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