New Mexico Educational Retirement Board commits $75m to Realterm’s logistics funds

The $13 billion New Mexico Educational Retirement Board (NMERB) has agreed to invest $75 million total in two Realterm Logistics Funds, managed by U.S.-based logistics and real estate investment company Realterm.

NMERB committed $50 million to the Realterm European Logistics Fund I, bringing the fund halfway to its equity fundraising target of $100 million. The Realterm European Logistics Fund I fund invests in industrial and logistics properties across Europe.

This is the pension fund’s first investment in European industrial assets, according to people familiar with the matter.

NMERB invested an additional $25 million in Realterm Logistics Fund III, a value-add fund that invests in high-flow-through logistics and final-mile industrial real estate across the United States. The pension fund invested $50 million in the two previous funds in the series.