Public Employees Retirement Association of New Mexico (New Mexico PERA) has approved a total of $170m (€144m) in commitments to KKR’s open-ended OECD-focused core infrastructure fund and a Rockwood Capital-managed separate account.
The pension fund disclosed in a meeting document that it has committed $150m to the KKR Diversified Core Infrastructure Fund, adding to its initial $100m investment made to the fund in December 2023; and made a $20m investment into the $325m New Rock Core Separate Account.
New Mexico PERA disclosed in the meeting document that $150m of its capital in the KKR fund has already been called by the manager, adding that KKR continues to execute its stated objectives and perform to the pension fund staff’s expectations.
This fund targets gross annual returns of 8% to 10% from investments in utilities, telecom, transportation, and energy transition sectors across Western Europe, North America and Australia.
This capital commitment to the New Rock Core Separate Account will be used to provide loan restructuring for two existing assets.
The separate account has invested primarily in western US boutique office, creative workshop and retail assets.
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