The New Mexico State Investment Council (SIC) has approved a $100 million commitment to IPI Partners II, a data center fund co-sponsored by ICONIQ Capital and an affiliate of Iron Point Partners.
The investment will consist of a $75 million commitment to the main fund and a $25 million co-investment, according to a May 26 board meeting document.
IPI Partners II will focus on the acquisition and operation of stabilized, value-add and build-to-suit data center properties, and will primarily invest in established data center hubs or smaller growing markets throughout the United States. The infrastructure fund is targeting $1.5
