The New Mexico State Investment Council (SIC) has unanimously approved the full redemption of its investment in the core, open-ended Jamestown Premier Property Fund, according to meeting minutes from Aug. 24.
The recommendation was based on the fund’s recent performance and strategy outlook, historical underperformance, Townsend rating, and capital flows, according to SIC.
The commitment amount was $104 million, made in 2012, and the SIC interest now has a market value of $120 million.
In other news, SIC has approved an updated structure study, which will be used to establish a real estate i
