The New Mexico State Investment Council (SIC) has approved a commitment of up to $150 million in Newmarket International Infrastructure Finance Company Fund III, according to a recent investment document.
Newmarket International Infrastructure Finance Company Fund III, managed by Newmarket Investment Management, opened to investors in August 2020. An SEC filing from that month did not disclose a fundraising target.
According to New Mexico SIC, Fund III will focus on facilitating risk transfers with global financial institutions, primarily targeting infrastructure loan portfolios. The recommendation was based on the SIC’s symbiotic relationship with banks, technical complexity, infrastructure focus, diversification, high risk-adjusted returns, J-curve mitigation and ESG.
