New Mexico SIC Commits $650M to Real Assets Across Debt and Infrastructure
The New Mexico State Investment Council (SIC) has approved $650 million in new commitments to its real assets portfolio, advancing both debt and equity strategies as the $50 billion fund continues to diversify across private markets.
ArrowMark Partners, a new manager for SIC, received a $100 million commitment to its Commercial Real Estate Debt fund, along with up to $50 million for a separately managed co-investment vehicle. ArrowMark, which manages $18.5 billion, will focus on cash-flowing, value-add opportunities across property types in growing, liquid markets. The fund is targeting net IRRs of 10%–13% and 1.5x multiples on invested capital.
Swiss-based Partners Group also gained approval as a new relationship. SIC allocated up to $350 million to Partners Infrastructure Fund IV and $150 million to a related co-investment vehicle. The fund pursues a value-add strategy across mid-market infrastructure companies, with a focus on developed markets in North America and Europe. Target sectors include clean power, carbon management, critical supply chains, social infrastructure, and data storage.
