New Mexico State considers $140m portfolio rebalance

The $23.1 billion New Mexico State Investment Council is considering a proposal to rebalance its real estate and real return portfolio, according to board meeting documents.

It’s proposed that $140 million in funding would come from the equity portfolio and cash and would be invested in real estate and infrastructure assets. The new allocations would include $75 million to Heitman HART, $30 million to Clarion Lion Industrial Trust and $35 million to JPM Infrastructure Investment.

A decision to approve the portfolio rebalance allocations has not been made but will be made by SIC staff.

New Mexico SIC has a target allocation to real estate of 12 percent with an actual allocation of 9 percent, according to the document.