The $12.8 billion New Mexico Educational Retirement Board has committed $50 million to TPG Real Estate Partners III, according to Bob Jacksha, CIO for the pension fund.
TPG Real Estate Partners III is focused on opportunistic-platform real estate investments in the United States and Europe. The fund will implement a buy-and-build strategy, acquiring assets in inefficient and fragmented markets.
The fund’s predecessor, TPG Real Estate Partners II, held a $2 billion final close in 2015.
New Mexico ERB has a 7 percent target allocation to real estate.
