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Sign in Sign up for a FREE subscriptionNM State considers $150m in commitments to two real estate funds
The $23.1 billion New Mexico State Investment Council is considering a total of $150 million in equity commitments to two real estate funds at its Jan. 9 investment council meeting.
The two funds in consideration are Ares European Real Estate Fund V, managed by Ares Management, and Almanac Realty Securities VIII, managed by Almanac Realty Investors.
Ares European Real Estate Fund V is an opportunistic fund that invests in European properties with a focus on France, Germany and the United Kingdom.
Almanac Realty Securities VIII is a value-added fund that invests in office, hotel, industrial, retail and multifamily properties throughout North America.
The council will vote to approve the recommended commitments at its meeting on Jan. 9 meeting. NM State has a target allocation to real estate of 12 percent.
