New Mexico State Investment Council, Santa Fe, committed $420 million to five alternative investment funds, said Charles Wollmann, spokesman for the $26.1 billion endowment in an email.
The council committed $100 million each to two real estate funds: Exeter U.S. Industrial Value Fund V, a value-added industrial fund with a $1.6 billion target managed by Exeter Property Group, and Carlyle Property Investors, a $1.7 billion open-end core-plus fund managed by Carlyle Group. The SIC's real estate consultant Townsend Group assisted.
New Mexico SIC officials also committed $100 million to KPS Special Situations V, a buyout fund investing in manufacturing and industrial companies, managed by KPS Capital Partners, and another $100 million to a senior debt lending fund Golub Capital Partners 12 managed by Golub Capital. The SIC's private equity consultant Mercer assisted with the KPS commitment and its fixed income consultant Aksia assisted with the Golub commitment.
The council also committed $20 million to Phoenix Venture Partners III, a venture capital firm that invests in start-ups focused on the underlying materials and devices for major industries such as consumer electronics, pharmaceuticals, energy storage, automotive and building materials. The fund is managed by Phoenix Venture Partners. The council made the commitment for its regional and New Mexico focused private equity program. Mercer assisted.
The council has invested with all of the managers in the past.