New Mexico SIC Expands Alternatives with Over $2B in New Allocations
The $64.9 billion New Mexico State Investment Council (NMSIC) approved more than $2 billion in new commitments across venture capital, private equity, real assets, and real estate as opportunities broaden both domestically and abroad.
For the first half of 2025, the fund returned 6.4%, with a 10.18% annualized gain through June 30. Real return strategies led performance (+11% YTD), followed by private debt (+9%).
Highlights include $300 million to two new Lowercarbon Capital funds—one focused on fusion energy ventures and another supporting portfolio companies building operations in New Mexico—plus $100 million to 8VC Offset Fund I and $100 million across five Lightspeed vehicles. Additional VC commitments went to J2 Ventures ($35M), DCVC ($15M top-up), Menlo Ventures ($90M across three funds), and TCG Crossover ($50M).
In real assets, trustees approved over $1 billion in new mandates, including $450 million to I-Squared Capital’s latest global infrastructure fund and co-investment vehicles, €300M ($351M) to InfraVia’s European platform, $150M to GI Partners’ Data Infrastructure Fund II, and $125M to first-time manager Tallvine.
On the real estate side, NMSIC committed $234M to EQT Exeter Europe Logistics Fund VI, expanding its exposure to European logistics.
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