The New Mexico State Investment Council (NMSIC) has approved a commitment of up to $150 million to Asana Partners IV, according to meeting materials from April 22.
Asana Partners IV, a program of Asana Partners, is a value-add, closed-end fund with a focus on street-front retail properties in the United States. The fund has an equity fundraising target of $1.5 billion. Asana Partners Fund III, its predecessor, raised $1.5 billion in equity.
NMSIC is a sovereign wealth fund with $59.4 billion in assets under management, as of Dec. 31, 2024. As of then, it had $4.1 billion in total real estate assets with a 12 percent real estate allocation target.
