New Mexico State Investment Council (SIC) has set a $300m (€309.6m) pacing plan for its real return portfolio for the fiscal 2023 year which started 1 July.
The $34bn sovereign wealth fund disclosed in a board meeting document that the capital set aside for the portfolio will mainly target traditional and energy-focused infrastructure investment opportunities.
New Mexico SIC will consider some agricultural and commodity investing opportunities.
New Mexico SIC has a 10% target allocation for the real return portfolio. Within the portfolio, 80% of the allocation is for real assets and 20% for financial assets.
Infrastructure accounts for 48.9% of the real assets portfolio, timberland and agricultural account for 11.3% each and energy represents
27.1% of the portfolio, the sovereign wealth fund disclosed in the board meeting document.
New Mexico also issues some infrastructure commitments outside of the real assets portfolio like infrastructure debt investments which is placed into the non-core fixed-income asset class.
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