The New Mexico State Investment Council (NMSIC) has approved a $200 million allocation to iCon Infrastructure Partners VII, according to meeting materials from April 22.
iCon Infrastructure Partners VII, managed by iCon Infrastructure, will focus on acquiring a diversified portfolio of brownfield, mid-market infrastructure companies in Europe and North America through a core to core-plus strategy. It has a $4 billion equity fundraising goal.
This allocation marks NMSIC’s third investment with iCon Infrastructure Partners, as it committed $75 million to iCon V, which closed with $1.9 billion in equity, and $100 million to iCon VI, which closed with $3.6 billion in equity.
NMSIC is a sovereign wealth fund with $59.4 billion in total assets under management, as of Dec. 31, 2024. NMSIC currently has a 7 percent infrastructure allocation goal.
