New Mexico approves loan fund, adds to state PE program

The $30 billion New Mexico State Investment Council approved three commitments at its trustee meeting this week as staff prepare for a new asset allocation study coming up in the second quarter.

Approved were commitments to Berkshire Multifamily Debt III ($60 million), Berkshire Bridge Loan Investors II ($40 million) and Scout Ventures III ($5 million).

As recommended by staff and real return advisor Townsend, the Berkshire Multifamily Debt III is a closed-end successor vehicle created to continue the firm’s history of investing in Freddie Mac K-program debt products. The loan pools are . . .

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