New Mexico approves European investment

The $15.9 billion New Mexico State Investment Council (NMSIC) has approved a commitment of €50 million ($60 million) to Perella Weinberg Partners’ second pan-European real estate fund. The investment was made for NMSIC’s noncore tactical portfolio during the investment council’s May 23 meeting.

Perella Weinberg Real Estate Fund II (PWRE II) is an opportunistic fund with a €1.63 billion ($2.10 billion) fundraising goal. The vehicle will invest in core Europe, defined as the United Kingdom, France, Germany, the Netherlands, Switzerland, Austria, Italy, Spain and the Nordics. In continuation of the strategy followed in Perella Weinberg Real Estate Fund I, PWRE II will target large, complex investments that are expected to include major corporate situations, acqu