New Mexico commits up to $80m to European real estate fund
The $11 billion New Mexico Educational Retirement Board has committed up to $80 million to Kildare European Partners II, according to recent meeting documents.
The fund, which is sponsored by Kildare Partners and launched earlier this year, is seeking to raise $2 billion. The fund invests in distressed real estate debt in Germany, the Netherlands, Portugal, Italy and the United Kingdom. Other recent investors in the fund include the Texas Permanent School Fund.
NMERB previously committed $25 million to Kildare European Partners I, the fund’s predecessor, in 2014. The retirement board has a 7 percent target allocation to