New Mexico SIC commits $100m to real estate fund

The $20 billion New Mexico State Investment Council has committed $100 million to Carlyle Realty Partners VIII, according to Charles Wollmann, director – communications, legislative and client relations at the investment council.

Carlyle Realty Partners VIII is an opportunistic real estate fund managed by The Carlyle Group. The fund opened in October 2016 with a $5 billion equity fundraising goal, the largest target for Carlyle’s U.S. real estate fund series. The fund has raised $2.76 billion so far. The fund series focuses on acquisitions, value enhancements and dispositions of U.S. office, residential, senior housing, hotel and retail properties.

The fund’s predecessor, Carlyle Realty Partners VII, held a $4.2 billion final close in September 2015, while Carlyle Realty Partners VI closed in December 2011 after raising $2.3 billion.

In addition, New Mexico SIC has increased its real estate allocation from 10 percent to 12 percent.