New Mexico State Investment Council, Santa Fe, made $125 million in commitments to two alternative investment funds, said Charles Wollmann, director of communications for the $17.4 billion endowment.
The council committed up to $100 million to Hancock Timber Resource Group's Hancock Timberlands XII and an additional $25 million to private equity fund Platinum Equity Capital Partners III, Mr. Wollmann said.
Hancock Timber is a globally diversified timberland fund with a $400 million to $450 million target. The fund aims to invest in timberland in the U.S., Canada, Australia, Latin America and Western Europe. The council has one other commitment to a timberland fund: $100 million to Brookfield Timberlands Fund V.
The council's additional commitment to Platinum Equity Capital Partners III brings the endowment's total commitment to the fund to $75 million.