New Mexico State Investment Council (SIC) is investing $300m (€285.3m) in opportunistic real estate via a Sculptor Capital Management strategy.
The sovereign wealth fund has made a $200m commitment to the Sculptor Real Estate Fund V fund and invested $100m into a co-investment sidecar.
As previously reported, Sculptor Capital’s Fund V, which will focus on acquiring alternative assets such as gaming properties, hotels and senior housing is seeking to raise $3bn.
Fund V has secured $2.3bn in commitments to date, following its initial closing in August last year, according to sources familiar with the fund.
New Mexico SIC’s commitment marks its first-ever investment with Sculptor, drawn by the performance of the manager’s previous funds.
The first three funds in the series ranked in the top quartile of opportunistic real estate peers based on net internal rate of returns.
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