New Mexico State Investment Council, Santa Fe, committed up to $50 million to JMI Equity Fund VIII, said Charles Wollmann, director of communications for the $19.8 billion endowment.
The private equity fund is expected to make investments in software and technology-enabled services companies. It is the endowment's first investment with JMI Equity. Private equity consultant LP Capital Advisors assisted.
The council also committed an additional $50 million to Clarion Lion Industrial Trust. The open-end private real estate investment trust is run by real estate manager Clarion Partners and focuses on the industrial property sector in North America.The REIT “has been a solid performer since our original $35 million commitment two years ago,” Mr. Wollmann said.