The New Mexico State Investment Council (SIC) has committed $150 million to Torchlight Debt Opportunity Fund VIII (TDOF VIII) and €200 million ($216.5 million) to Ares European Property Enhancement Partners IV (AEPEP IV).
New Mexico SIC has an existing relationship with Ares, but this is its first investment with Torchlight, reflecting an expansionary mindset as the SIC handles billions of dollars of inflow due to significant yields from the Permian Basin.
TDOF VIII is managed by Torchlight Investors and will invest with a value-added strategy in debt in the United States.
Managed by Ares Management, AEPEP IV is focused on building a portfolio of institutional, high-quality, income-producing assets in dominant and growing cities in Europe.
AEPEP IV seeks to invest in assets where cash flows can be increased or re-profiled and values enhanced through professional asset management and selective capital expenditure.
As of Sept. 30, 2023, 10.2 percen
