New Mexico SIC Commits $927.5M to Alts

The New Mexico State Investment Council (SIC) allocated a total of $927.5M across 11 venture capital, private equity, private infrastructure, and real estate funds.

In materials related to the pension’s November 26 board meeting, New Mexico SIC disclosed commitments to five early-stage venture capital funds: Bonfire Ventures IV with $45M; Lerer Hippeau IX with $40M; UP.Abundance Fund I with $20M; UP.Labs Fund I with $26M; UP.Ventures II with $34M. 

In private equity, the pension allocated $75M to Sweetwater Secondaries Fund IV and $200M to middle-market buyout strategy Oaktree Power Opportunities Fund IX. In private infrastructure, Copenhagen Investment Partners V received a $100M allocation from the pension and another $37.5M through its affiliated co-investment vehicle.

Lastly, the pension committed $200M to FPA Apartment Opportunity Fund IX and $150M to Berkshire Multifamily Credit Fund IV under its real estate portfolio.

Mercer assisted in the discussions for the majority of the approved funds, save for both real assets strategies FPA Apartment Fund IX and Berkshire Fund IV, where Townsend and Meketa, respectively, provided consulting services. 

For more public pension insights and a comprehensive library of public plan minutes, book a demo of Dakota Marketplace!