New Mexico SIC amends Meketa contract to include real estate debt investments

The New Mexico State Investment Council approved an amendment of its contract with Meketa to expand coverage to include real estate debt investments and to reflect increased commitment requirements during its meeting on Oct. 24.

The motion comes as multiple real estate debt strategies from NMSIC are expected to shift to fixed income during an upcoming real estate portfolio structure study and as there are “emerging pockets of stress and dislocation in real estate markets [that] offer potentially attractive debt-financed return profiles,” wrote the NMSIC Staff in an Oct. 17 memorandum included with the Oct. 24 meeting materials.