The $23.7 billion New Mexico State Investment Council is considering an investment in BlackRock Global Energy & Power Infrastructure Fund III, according to a board meeting agenda. The amount committed was not disclosed, but a final decision on the commitment will take place at the pension fund’s investment meeting Oct 23.
The fund focuses on equity investments in the mid-market energy and power infrastructure value chain, primarily in developed countries. GEPIF III held its first close in July after raising $1.5 billion.
GEPIF III is the third fund in the Global Energy & Power Infrastructure Fund series. In June 2017, BlackRock acquired the First Reserve Energy Infrastructure Franchise from First Reserve. The infrastructure team that joined BlackRock from First Reserve continues to manage the previous two funds and formed a new global energy and power infrastructure group within BlackRock Real Assets.