The New Mexico State Investment Council (SIC) has approved a $100 million commitment to a core-plus multifamily fund managed by San Francisco–based FPA Multifamily, a spokesperson for the sovereign wealth fund confirmed in an email.
The Townsend Group advised on the investment, which was approved at the council’s Feb. 14 meeting, according to an agenda item listed on the pension fund’s website. This is New Mexico SIC’s first commitment to an FPA Multifamily fund.
FPA Core Plus V was launched in September 2019 with a target fundraising amount of $1 billion.
