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U.S. pension fund commits $65m to real estate, real assets
The New Mexico Educational Retirement Board has committed $35 million to Rockpoint Group’s Real Estate Fund V and $30 million to Water Asset Management’s Water Property Investors.
The commitment to Rockpoint’s Fund V is a follow-on commitment to the $50 million commitment the pension fund committed to Rockpoint’s Fund IV in 2011, according to IREI’s FundTracker Database.
“We invested in Fund IV, and it is performing well,” says Bob Jacksha, chief investment officer with NMERB. “It’s someone we are familiar with, and when we’ve committed to a fund, they are performing well and there are no changes in management, we generally think we should continue with them.”
Not much has been made public about Rockpoint’s Fund V, though it is reportedly seeking a $2.5 billion haul. Fund IV had a final close in 2014 after raising