New Mexico State Investment Council (SIC) has approved a $100m (€85.6m) commitment to the SDC Digital Infrastructure Opportunity Fund V, according to the sovereign wealth fund.
The investment establishes a first-time relationship between the investor and the fund manager, SDC Capital Partners, for its infrastructure portfolio.
New Mexico State SIC has classified Fund V under an opportunistic risk/return profile.
The fund, which targets opportunities across North America and Western Europe, invests in digital infrastructure assets such as data centres, fibre networks, wireless infrastructure and related services.
New Mexico SIC has also committed $300m to LS Power Equity Partners VI, a North America fund which seeks to invest in assets such as solar, wind, energy storage, electrification and micro-grids.
The fund is aiming for net internal rate of return in the mid-teens.
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