New Mexico State Investment Council, Santa Fe, committed $300 million to three credit funds and up to $62 million to a real estate fund, said Charles Wollmann, spokesman for the $21.2 billion endowments.
The council at its Tuesday meeting committed $100 million each to credit strategies Golub Capital Partners XI; PIMCO Bravo Fund III and a follow-on investment in PIMCO Distressed Senior Credit Opportunites Fund II. Golub is a new relationship.
Golub Capital's new fund has a $1 billion target to invest in loans to middle-market, private equity-sponsored companies.
The council's new investment in Pacific Investment Management Co.'s distressed fund brings its total investment to $200 million. The fund invests in a broad range of senior structured credit assets such as commercial mortgage-backed securities and residential mortgage-backed securities, collateralized loan obligations and consumer asset backed securities.
PIMCO is targeting a $3 billion to $4 billion raise for Bravo Fund III with a hard cap of $5 billion. The fund would invest in private assets as well as less liquid public market assets.
Council officials also committed up to $62 million to Exeter Industrial Value Fund IV, managed by Exeter Property Group. The fund is a $1.275 billion closed-end domestic value-added fund investing in warehouses and light industrial real estate.
Separately, the council added BlackRock to its slate of approved equity transition managers. But the council could be scheduled as early as in April to review the other members of the pool, Citibank and Russell Investments because their contracts are set to expire in mid-year 2017.
