The Public Employees Retirement Association of New Mexico’s investment committee approved a $45 million commitment to TPG Opportunities Fund III earlier this week, a spokesperson for the retirement association told Private Debt Investor.
New Mexico characterised Fund III as a distressed debt fund. TPG’s Opportunities platform typically invests in actively managed credit-related investment opportunities. The firm is reportedly targeting $2.5 billion for the fund, though a spokesperson for the Washington State Investment Board pegged the target at $2.65 billion.
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