The $23.7 billion New Mexico State Investment Council plans to invest equity into two real estate funds, according to board meeting documents.
The two commitments would be €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 New Mexico State Investment Council.
Aermont Capital Real Estate Fund IV is an opportunistic real estate fund managed by London-based Aermont Capital. The firm’s funds are mandated to invest in real estate and real estate–related opportunities in Europe, in prime assets or projects at top locations in major cities such as London, Paris, Berlin, Frankfurt, Barcelona, Amsterdam, Florence, Lisbon and others. The fund also recently received an €85 million​ ($100 million) commitment from the Texas County & District Retirement System.
Asana Partners Fund II is a value-added real estate fund managed by Asana Partners. Through its funds, the firm invests in distinctive retail properties in dynamic urban markets in the United States. New Mexico State committed $75 million to the first fund in the series, Asana Partners Fund I, in 2017.
New Mexico State Investment Council has a long-term target allocation to real estate of 12 percent.
