New Mexico commits $50m to Lion Industrial
The $19.2 billion New Mexico State Investment Council has committed $50 million to Lion Industrial Trust, an open-end core/core-plus fund managed by Clarion Partners that looks to own, develop, manage and strategically sell industrial warehouse properties in North America (with a substantial focus on the United States). The investment is a follow-on investment to NMSIC’s original $35 million commitment to Clarion’s LIT in 2012.
“In general, the SIC has been shifting toward larger commitments and deeper relationships with fewer managers,” explains Charles Wollmann, director of communications with NMSIC. “LIT has been a so