New Mexico Adds $575M to Alts Fund
The New Mexico State Investment Council (SIC) approved allocations to four funds totaling $575 million across private credit, real estate and real return strategies at its November meeting.
In private credit, the $48 billion fund made a $400 million investment in Golub Capital’s direct lending strategy, which focuses on middle-market companies in specialty consumer, software/technology, financial services and healthcare sectors.
In real estate, SIC committed $100 million to NorthBridge Partners Fund IV with another $50 million allocation to a co-investment vehicle. The fund is a portfolio of small and mid-sized industrial real estate assets in the Northeast and Mid-Atlantic regions.
SIC officials also approved a $25 million allocation to Sandbrook Climate Infrastructure I and a corresponding co-investment vehicle within SIC’s real return program.
The fund, managed by Sandbrook Capital, invests in a portfolio of greenfield and brownfield core-plus to value-add energy projects across clean power generation, transmission and storage.