New Mexico Educational Retirement Board funnels $235m into four real estate funds

The New Mexico Educational Retirement Board (NMERB) has greenlighted $235 million of commitments to four U.S. real estate funds.

The pension fund is funneling $75 million into the TPG Real Estate Partners Fund IV (TREP IV), an opportunistic fund managed by TPG Real Estate, as well as a $25 million follow-on investment in the TPG Thematic Advantage Core-Plus Fund (TAC+).

In October 2022, TREP IV closed with more than $6.8 billion of commitments. The fund’s strategy focuses on thematic investing, primarily in property-rich platforms and strategic portfolio aggregations in the United States and Europe. TAC+, which also held its final closing in 2022 with $1.8 billion of commitments, pursues thematic real estate investments in the United States with stabilized tenancy and enduring cash flow.

The pension fund also committed $75 million to Raith III, a debt fund managed by Raith Capital Partners.

​​Raith Capital Partners’ separately managed accounts inv