New Mexico State Investment Council, Santa Fe, made $175 million in commitments to three real estate funds and $10 million its first fund commitment to its in-state private equity program in five years, said Charles Wollmann, director of communications for the $17 billion endowments.
At a meeting Tuesday, the council committed $75 million to USAA Eagle Real Estate Fund, a core and core-plus open end real estate fund run by USAA Real Estate; and $50 million each to Harrison Street IV, a non-core opportunistic real estate fund, and Cypress Acquisition Partners Retail Fund, a value real estate fund managed by Cypress Equities Real Estate Investment Management.
The council also committed $10 million to private equity fund Sierra Ventures X from its New Mexico private equity program.
Separately, the council hired Aetos Capital as an interim manager for its $665 million credit/structured finance pool, which was overseen in-house. Aetos also manages a $315 million hedge fund-of-funds portfolio for the council.
“As we get deeper into this credit cycle, the council felt it appropriate to bring on some additional expertise in this strategy,” Mr. Wollmann said.
