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New Mexico SIC strengthens noncore portfolio with Blackstone, EQT Exeter commitments
Investors - MARCH 7, 2022

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New Mexico SIC strengthens noncore portfolio with Blackstone, EQT Exeter commitments

by Kali Persall

New Mexico State Investment Council (NMSIC) has voted to commit $175 million to two real estate funds on behalf of its noncore real estate portfolio.

The lion’s share of the investment — $100 million — will go to EQT Exeter Industrial Core-Plus Fund IV (EICV IV), a closed-end commingled fund vehicle managed by EQT Exeter. The remaining $75 million will go to Blackstone RE Partners Asia III (BREP Asia III), an opportunistic fund managed by Blackstone.

Opened in September 2021, EICF IV will invest in industrial and logistics properties in the United States. With a fundraising target of $2.5 billion, the fund will focus on acquiring well-occupied class-A distribution assets in major population centers and distribution hubs across the United States.

Blackstone Real Estate Partners Asia III, a pan-Asia focused closed-end fund, is targeting $9 billion to invest in a diversified portfolio of real estate assets in the Asia Pacific region.

NMSIC said both fu

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