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Sign in Sign up for a FREE subscriptionNMERB re-ups in Raith Capital Partners, Crow Holdings real estate funds
The $16 billion New Mexico Educational Retirement Board (NMERB) has disclosed $150 million of commitments to opportunistic real estate and real estate debt funds, IREI has learned.
NMERB made a $100 million follow-on commitment to Raith NMERB Core-Plus Separately Managed Account, managed by Raith Capital Partners, and a $50 million follow-on commitment to Crow Holdings Realty Partners X, managed by Crow Holdings Capital.
Raith NMERB Core-Plus Separately Managed Account acquires and originates commercial real estate debt, specifically mortgage whole loans, subordinate loans, B-notes, mezzanine debt, rescue financing, investment grade and non-investment grade commercial mortgage backed securities, and other debt-related investments. NMERB previously committed $50 million to the separate account in 2020.
The other fund, Crow Holdings Realty Partners X, invests in value-add and op