New Mexico State Investment Council, Santa Fe, NM, at its Oct. 29 meeting approved a total of up to $927.5 million to alternative investments, said Charles Wollmann, spokesman for the $58.2 billion sovereign wealth fund.
The council at its Nov. 28 meeting committed up to $200 million each to FPA Apartment Opportunity Fund IX, a U.S. multifamily fund managed by FPA Multifamily and Oaktree Power Opportunities Fund VII, an energy-focused buyout fund managed by Oaktree Capital Management.
The council also committed up to $150 million to Berkshire Multifamily Credit IV, a real estate debt fund managed by Berkshire Group. It committed up to $100 million to Copenhagen Infrastructure V, an infrastructure core fund managed by Copenhagen Infrastructure Partners as well as $37.5 million to co-invest alongside the fund.
The New Mexico SIC also committed up to $75 million to Sweetwater Secondaries Fund IV, a private equity secondary market fund managed by Sweetwater Capital Partners, up to $45 million to Bonfire Ventures IV, a seed stage venture capital fund investing in business-to-business software companies managed by Bonfire Ventures and $40 million to Lerer Hippeau IX, an early-stage venture capital fund managed by Lerer Hippeau.
The council also committed million for its in-state private equity portfolio a total of up to $80 million to three funds focused on early stage climate technology investments to New Mexican start up companies managed by UP.Partners: $34 million UP.Ventures II, $26 million to UP.Labs I, and $20 million to UP.Abundance I.