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Sign in Sign up for a FREE subscriptionNMSIC earmarks $60m for Berkshire Multifamily Debt Fund III
The New Mexico State Investment Council (NMSIC) is planning to commit $100 million to two funds managed by Berkshire Group, following a recommendation by real return adviser The Townsend Group. These include a commitment of up to $60 million to the Berkshire Multifamily Debt Fund III, as well as a commitment of up to $40 million to Berkshire Bridge Loan Investors II.
Berkshire Multifamily Debt Fund III is a closed-end multifamily debt fund created to invest in Freddie Mac K-Program debt products. The fund is targeting $1.5 billion in capital commitments.
Berkshire Bridge Loan Investors II is a closed-end successor vehicle focused on continuing Berkshire’s multifamily direct lending strategy. The fund, which is seeking to raise more than $1 billion, has closed on $970.3 million in equity commitments as of Feb. 18.
The investments build on an existing relationship between NMSIC and Berkshire, according to a recent investment