The New Mexico State Investment Council (SIC) has committed $100 million to NorthBridge Partners Fund IV with a $50 million additional commitment towards a co-investment vehicle.
Managed by Boston-based NorthBridge, NBPF IV is seeking to raise $800 million and will invest with a value-add strategy in small to mid-sized last-mile industrial real estate assets located principally in the Northeast and Mid-Atlantic regions.
NorthBridge plans to add value to assets through modernization, change of use, repositioning for ecommerce and building expansions.
As of Aug. 31, 8.2 percent ($3.89 billion) of New Mexico SIC’s $47.4 billion portfolio was invested in its real estate pool.
For more information about this fund and others, visit the IREI.Q database.
