The $43 billion New Mexico State Investment Council (NMSIC), which oversees state permanent and endowment funds, added three funds to its private equity, fixed income/tactical allocation strategy and real estate portfolios.

The decisions were made at the NMSIC’s April 25 meeting, where trustees also considered asset allocation mixes for various sub-funds in the overall portfolsio. Real assets and real estate portfolios are set for modest increases, according to board meeting documents.

The NMSIC approved $150 million to Oaktree Real Estate Opportunities Fund IX. Oaktree plans to raise roughly $6 billion for the new fund. The strategy looks to deploy capital through purchases of distressed debt or discounted securities, providing rescue capital or participating in equity recapitalizations.

The largest allocation was to fixed income, with $300 million to Silver Rock Tactical Allocation Strategy, a private credit capital solutions strategy focused on bespoke credit-oriented special situations and, during periods of dislocation, targeted liquid credit investments. The underlying illiquid strategies are comprised of distressed credit, private financing, illiquid structure credit and niche specialty lending.

TCG Crossover Management won a $50 million commitment to the TCG Crossover Fund II, a strategy focused on both private and public investments in later stage biotechnology companies.