New Mexico approves $50m commitment to Berkshire fund
The $20 billion New Mexico State Investment Council approved the previously reported proposed commitment of $50 million to Berkshire Multifamily Value Plus Fund IV, according to Charles Wollmann, director of communications.
Berkshire Multifamily Value Plus Fund IV and its co-investment vehicles were formed to target a broad range of multifamily investment opportunities in major U.S. markets by investing in acquisition, debt, development and recapitalization transactions. The fund opened in the second half of 2016 and seeks to raise a maximum of $350 million in equity commitments.
New Mexico has committed to additional Berkshire Group funds in the past, including a $75 million commitment to Berkshire Multifamily Income Realty Fund in 2015.
As of March 31, 2017, New Mexico had a target alloc