New Mexico State Investment Council (SIC) has made $781m (€670m) worth of commitments, allocating the capital to a Carlyle real estate fund and CVC DIF infrastructure strategies.
The sovereign wealth fund committed $200m to the open-ended Carlyle Property Investors fund, a follow-up to its initial $100m commitment in 2019.
The Carlyle fund targets US assets like senior housing, self-storage and single-family rentals.
As of the first half of the year, the fund’s allocation was weighted toward manufactured housing at 32% and single-family rental at 25%, with additional exposure in medical office at 10% and active adult residential communities at 8%.
The fund’s main strategy is to acquire existing assets, but maintains the option to allocate up to 10% toward development deals.
New Mexico SIC said it made a €100m commitment to the DIF VIII core-plus fund and placed €200m into DIFVA IV, a value-add fund.
The sovereign wealth fund also invested €200m for co-investments intended to participate across the core-plus and value-add infrastructure funds.
DIF VIII has plans to invest 55% of the capital in Europe and 45% in North America in a mixture of transport, energy transition, digital, healthcare and utilities.
DIF VA IV invests in acquisitions and greenfield development in the sectors of digital, energy transition, transportation and health care.
The infrastructure commitments mark a first-time relationship with CVC DIF.
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