NMSIC commits $75m to European fund
The $19.8 billion New Mexico State Investment Council has committed $75 million to the Ares European Real Estate Fund IV, an opportunistic fund operated by Ares Management.
“Ares has previously proven to be a manager of depth and ability, and we find this commitment to be an attractive opportunity which will complement our existing portfolio strategies,” says Charles Wollmann, NMSIC director of communications.
The fund, which had raised $557 million by July 2014, launched in January 2012 with a $1 billion fundraising goal. It will seek to capitalize on continued dislocations in the European market, delivering core assets to the market through significant asset management and