New Mexico State to invest in Brookfield debt fund

The $23.7 billion New Mexico State Investment Council plans to invest in Brookfield Senior Mezzanine Real Estate Finance Fund, according to a board meeting agenda. The amount to be committed was not disclosed, and a final decision on the commitment will take place at the pension fund’s investment meeting Oct. 23.

Brookfield Senior Mezzanine Real Estate Finance Fund is managed by Brookfield Asset Management. The closed-end fund will invest in debt secured by U.S. properties in strategic locations. Brookfield’s real estate debt strategies are implemented through closed- and open-end investment vehicles.

NMSIC recently committed to an additional two real estate funds: €75 million ($88 million) to Aermont Capital Real Estate Fund IV and $75 million to Asana Partners Fund II. Both commitments will be re-ups for the investment council.

NMSIC has a long-term target allocation to re