New Mexico Educational Retirement Board (NMERB) has approved $225m (€205.3m) worth of commitments to four US real estate funds.

The pension fund disclosed in a meeting document that it had backed TPG Real Estate by committing $75m to the TPG Real Estate Partners Fund IV and issued a follow-on commitment of $25m into the TPG Thematic Advantage Core-Plus Fund.

NMERB previously backed the TPG Thematic Advantage Core-Plus Fund in 2021 with a $125m commitment.

The TPG Thematic Advantage Core-Plus Fund invests in a variety of property types including industrial, apartment and life science offices and related assets.

The pension fund said the TPG Real Estate Partners Fund IV fund seeks to opportunistically take advantage of a variety of themes and potential market dislocations.

The pension made a $75m commitment to Raith III, a debt fund managed by Raith Capital Partners, and also placed $50m into the RealTerm Logistics Fund IV fund.

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