New Mexico State commits $75m to core-plus fund
The New Mexico State Investment Council has committed $75 million to Angelo Gordon Core Plus Realty Fund IV, according to Charles Wollmann, communications director for the investment council.
The fund is targeting $1 billion and will focus on turnaround of underperforming properties in 15 major U.S. markets, as well as select investments in Europe and Asia.
“AG has a strong and proven track record across various environments. The allocator model AG employs offers additional diversification to our portfolio, and their approach helps mitigate risk,” says Wollmann.
New Mexico SIC has previously invested in the first three Angelo Gordon Core Plus funds, as well as AG Opportunistic VII. The $20.6 billion SIC has a 10 percent target allocation to real estate, which is currently underweight at 7 percent.