The New Mexico State Investment Council (SIC) is considering investments in infrastructure funds active in the middle market managed by I Squared Capital, InfraVia Capital Partners, GI Partners and Tallvine Partners. They all represent new relationships for the sovereign wealth fund.
During its Aug. 26 meeting, the investment committee voted unanimously in favor of recommending all investments to the SIC. The largest commitment includes up to $250 million to the ISQ Global Infrastructure Fund IV and up to $200 million in a related co-investment sidecar for a total investment amount of $450 million. The investment committee also recommended the co-investment vehicle be permitted to accept up to $50 million in deal flow from Fund III in this fund series, which is still in its investment period.
ISQ Global Infrastructure Fund IV will focus on value-add infrastructure opportunities in the upper-middle market. The vehicle has a target fund size of $15 billion.
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