NMSIC commits $75m to energy
After committing to The Blackstone Group’s real estate funds in the past, the New Mexico State Investment Council has turned to the firm’s energy fund series, committing $75 million to Blackstone Energy Partners II.
The commitment was confirmed by Charles Wollmann, director of communications with NMSIC. The full $75 million might not make it into the fund as it is already oversubscribed, according to Wollmann; however, the commitment will not be less than $50 million.
“Its not that unusual with the higher demand funds,” Wollmann says. “We’ve seen a little more of this over the last couple years.”
BEP II, an energy and natural resources vehicle, will reportedly be larger than its predecessor, which closed in September 2012 after raising $2.5 billion. BEP I seeks control and control-oriented equity investments within the energy and natural resources sectors globally.
“There are a lot of attractive