NMSIC invests $50m in MetLife fund
New Mexico State Investment Council has committed $50 million to MetLife Core Property Fund, a recently launched core open-end fund managed by MetLife Investment Management, according to the minutes of the investment council’s Nov. 26 meeting.
MCPF has raised $1.4 billion, according to an SEC filing. The parent company’s real estate account contributed 23 seed assets to the fund, including multifamily, office, and industrial properties. The fund is marketing to third-party investors and plans to hold a first close at the end of the month.
Recent investors include the Los Angeles Fire and Police Pensions, Louisiana Teachers’ Retirement System, and Alameda County (Calif.) Employees’ Retirement Association.
MCPF targets at least 90 percent of net asset