New Mexico State Investment Council (NMSIC) has approved a $150 million commitment to ACORE Credit Partners II, a real estate debt fund managed by ACORE Capital.
ACORE Capital is one of the largest global credit managers focused exclusively on commercial real estate lending. The firm is focused on originating, acquiring and managing first mortgages, B-notes, mezzanine debt and preferred equity throughout the United States, and has about $17.9 billion of assets under management.
Fund II launched in January but did not disclose a fundraising target in its SEC filing.
A source familiar with the matter said this is NMSIC’s first investment with ACORE.
