New Mexico commits $375m across private equity, debt funds and RE

The $28 billion New Mexico State Investment Council approved allocations to five different alternative investment funds totaling $375 million in new commitments. Within private debt, the system approved a $100 million allocation to ICG Senior Debt Partners IV, within New Mexico’s non-core fixed income portfolio and upon the advice of consulting firm Aksia. Two private equity allocations were also approved. A commitment of up to $75 million to KKR’s Asian Fund IV LP was decided upon at trustees October meeting. The largest fundraise among KKR’s Asia private equity fund series, the fund had a total of more than $13 billion in capital as of July, exceeding KKR Asia Fund III’s $9 billion, according to the firm’s third quarter earnings statement. Scale Venture Partners VII was approved for a $25 million commitment late last month. The Silicon Valley venture capital firm has $1.3 billion in assets under management and was an early investor in SaaS pioneers such as DocuSign and RingCentral. Two real estate allocations, meanwhile, represent very different investment approaches. A $100 million allocation to Exeter Europe Logistics Value Fund IV, which represents a strategy to acquire modern, long-term leased big box and last mile assets across major distribution markets across Europe and the U.K. New Mexico’s real estate advisor Townsend recommended the allocation. Meanwhile the State Investment Council approved a commitment of up to $75 million to AEW Partners Real Estate Fund IX, which raised an initial $300 million back in May, according to U.S. SEC documents. The fund invests in multi-family projects in North America. The new alternative investments follow September investment commitments at the New Mexico State Investment Council totaling $150 million by trustees.

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