New Mexico State Investment Council, Santa Fe, committed $225 million to three alternative investment funds, said Charles Wollmann, spokesman for the $20.6 billion endowments, in an email.
The council committed $100 million to private equity fund TPG Asia VII at its Tuesday meeting. The fund will take control and minority stakes in medium- to large-sized businesses in the Asia-Pacific region. It will primarily focus on companies in the financial services, consumer/retail, health care, and technology, media and telecommunications sectors. The council has invested with TPG in the past; it committed $100 million to TPG Asia VI.
The council also committed $75 million to Asana Partners Fund I, the first fund of new real estate firm Asana Partners. The firm was co-founded in 2015 by three former senior team members of EDENS.
The council committed $50 million to ACM Permanent Crops Fund II, an agriculture fund managed by Agriculture Capital Management. The fund will invest in permanent crop farmland and midstream food processing and packaging assets. The fund would develop and manage traditional and organic blueberry, citrus and hazelnut farms. The target return for the fund is in the low teens with a significant income component. The fund has a $400 million target and is oversubscribed, Mr. Wollmann said.
Separately, Paul Chapman has joined the council as director of real estate and real assets. He replaces Geraldine Barlow, who resigned in March to take another position in her native Australia. Mr. Chapman had been a senior managing director at real estate investment firm CBRE Global Investors. Pam Barnett, CBRE spokeswoman, could not be reached by press time.
