New Mexico State Investment Council (SIC) has approved commitment to co-invest US$ 50 million alongside Brookfield infrastructure fund IV. With the target of raising US$ 20 billion, the fund is set to be the biggest global infrastructure fund.

The fund has already raised US$ 15 billion by the end of June 2019, including US$ 100 million commitment from New Mexico SIC. The fund has closed nine seed investments in four continents for Infra projects in renewable power, data, energy, and transportation sectors.

The initial investments are on target to achieve a net internal rate-of-return target of at least 10%.