New Mexico State Investment Council committed up to $275 million to three alternative investment funds, said Charles Wollmann, spokesman for the $24.7 billion endowments.
The council committed $100 million to TPG Sixth Street Partners TAO Contingent Fund, a global multiasset-class fund investing in special situations, middle-market direct lending and distressed credit lending. The fund, which has a $3 billion target, will only start investing in a distressed or dislocated economic scenario. The council has been investing with TPG since 2011.
The council also committed up to $100 million to BlackRock Global Energy & Power Infrastructure III, which will invest in global core-plus and value-add energy and power infrastructure assets and asset-backed securities.
The council has invested with BlackRock in the past, including in BlackRock Global Renewable Power Fund II.
The council committed $75 million to Brookfield Senior Mezzanine Real Estate Finance Fund, a fund that will invest primarily in commercial real estate senior mezzanine floating-rate debt managed by Brookfield Asset Management. The council has committed to Brookfield funds in the past, including Brookfield Real Estate Finance Fund IV.