New Mexico State Investment Council, Santa Fe, approved a total of up to $535 million to alternative investments at its Oct. 29 meeting.
The council, which manages the state's $58 billion sovereign wealth fund, committed up to $200 million to Fairfield U.S. Multifamily Value Add Fund IV, a value-added real estate fund investing in U.S. multifamily properties, and up to $100 million for a co-investment vehicle managed by Fairfield Residential.
The council also committed up to $150 million to Orchard Global EleganTree Opportunities Fund III managed by Orchard Global Asset Management. During the meeting, Tom Lofton, director of fixed income, told the council that the fund will invest in the significant risk transfer market providing a form of loss insurance on pools of bank loans.
The council also committed up to $50 million to TCG Labs Opportunity Fund I, a later stage venture capital fund managed by The Column Group.
For its New Mexico private equity investment program, New Mexico SIC committed up to $20 million to Anzu North America Tech Leaders Fund, a growth/late-stage fund managed by Anzu Partners. Also for the New Mexico private equity program, the council committed up to $15 million to Antler U.S. New Mexico, a seed-stage venture capital fund managed by global startup accelerator Antler Partners that will seek to invest in 17 early stage, technology-enabled companies that are either based in New Mexico or will relocate to the state upon investment.
