New Mexico State Investment Council, Santa Fe, committed up to $76 million to two alternative investments.
The council Tuesday committed up to €50 million ($61 million) to AXA European Life Science Strategy. AXA Investment Managers is raising €750 million for a minority stake in the closed-end fund, with AXA Group retaining the majority stake. The fund is to invest in Kadans Science Partner, a developer, owner and operator of life sciences parks and campuses in the Netherlands, U.K. and Germany. Roughly 30% of the commitment is to be used to fund Kadan's existing portfolio and pipeline of life sciences properties. The rest will be used to expand Kadan business into other European countries in a develop-to-hold strategy.
AXA is a new relationship for the council.
Townsend Group, the council's real estate consultant, assisted.
The council also committed up to $15 million to Anzu Industrial Capital Partners III for its New Mexico private equity program. The fund is an early-state venture capital fund focusing on industrial and life sciences technology companies managed by Anzu Partners. It is the council's second commitment to an Anzu fund.
