New Mexico council eyes infrastructure, other suballocations to real assets

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New Mexico State Investment Council
Pensions & Investments | June 1, 2012 | Note from editors: NMSIC is a sovereign wealth fund

New Mexico council eyes infrastructure, other suballocations to real assets

By Arleen Jacobius

New Mexico State Investment Council, Santa Fe, will consider approving investment policies for the infrastructure, timberland and farmland suballocations in its 10% long-term real asset portfolio, said Charles Wollmann, spokesman for the $15 billion investment council.

The exact suballocations are still in the discussion stages, but infrastructure and timberland could each be allocated 30% of the real asset portfolio, Mr. Wollmann said.

Sixty percent to 100% of each suballocation would be strategically allocated, up to 40% tactically, and up to 10% each in publicly traded investments and in emerging markets.

The changes will be considered at the investment council's June 26 meeting.

Separately, the investment council committed $75 million to Global Infrastructure Partners II, its first infrastructure investment. Townsend Group, the council's real estate consultant, plans to recommend about $265 million in new infrastructure commitments over the next 12 to 24 months, according to meeting materials.

Separately, the council's investments returned 9.45% for the quarter ended March 31, ranking it in the top percentile of plans with more than $1 billion in assets in the Wilshire TUCS Universe, Mr. Wollmann said.

— Contact Arleen Jacobius at [email protected]

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