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NMERB commits $30m to real estate

by Jody Barhanovich

The $11.7 billion New Mexico Educational Retirement Board committed $30 million to real estate.

New Mexico committed $30 million to Water Property Investors II, a real estate fund managed by Water Asset Management. The opportunistic fund will acquire water rights through farmland acquisitions throughout the United States. The fund is targeting $350 million in equity commitments.

New Mexico previously committed $30 million to the fund’s predecessor, Water Property Investors, in 2014.

New Mexico has a target allocation to real estate of 7 percent.

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