New Mexico State Investment Council., Santa Fe, committed up to $295 million to real estate and other private investment funds, said Charles Wollmann, spokesman for the $18.5 billion endowments.
The largest of the commitments was $100 million to private equity fund TPG Asia VI, managed by TPG Capital.
The council also committed up to $75 million but not less than $50 million to special situations fund TPG Opportunities Partners III and $50 million to Blackstone Real Estate Partners Asia, managed by Blackstone Group. It also committed $35 million each to Exeter Industrial Value Fund III, managed by Exeter Property Group, and DivcoWest Fund IV.
The council has invested in previous TPG private equity funds and previous Blackstone funds, Mr. Wollmann said. These are first commitments to Exeter and DivcoWest funds.
Separately, the council is backing a bill in the current 30-day state legislative session to add an amendment to the state constitution that would remove a 15% cap on international investments for its largest endowment fund, the Land Grant Permanent Fund. If approved by the state Legislature, the amendment would need to be ratified by voters.
