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Investors - MARCH 31, 2020

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NMERB invests $50m in Crow Holdings Realty Partners IX

by Kali Persall

The $13.8 billion New Mexico Educational Retirement Board (NMERB) has committed $50 million to Crow Holdings Capital’s ninth investment vehicle, Crow Holdings Realty Partners IX.

Launched in November 2019, Crow Holdings Realty Partners IX seeks to acquire value-add real estate assets in the United States. The fund focuses on the multifamily, convenience and gas station, industrial, retail, self-storage, and student housing sectors.

Bob Jacksha, chief investment officer for the retirement board, told IREI in an email that the commitment builds on an existing relationship with Crow Holdings.

NMERB joins a number of other U.S. pension funds in backing the Crow Holdings vehicle, including the State Universities Retirement System of Illinois and the Illinois Municipal Retirement Fund.

As of December 2019, NMERB had a 6 percent allocation to real estate. The current target to the asset class is 8 percent.

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