Wednesday, 17 December 2014
Last updated 12 hours ago
Jan 26 2007 | 4:28pm ET
The $79.4 billion New Jersey Division of Investment is in the early stages of looking for commodity managers to handle approximately $3 billion of the system’s portfolio, according to spokesman Tom Vincz.
Vincz said the system is beginning to invest in commodities via commodity-linked notes and has already purchased some $300 million in these notes from Lehman Brothers and Merrill Lynch. However, the system is looking to accelerate its exposure to commodities via actively managed products.
“We have intentions to look at managers, but not for several months, and are moving cautiously at the present time given the conditions in the market for commodities,” said Vincz.
The system recently made commitments of $100 a piece to private equity funds Silver Lake Partners III, Credit Suisse Customized Fund Investment Group and Fairview Capital Partners. It also allocated $75 million to hedge funds Airlie Opportunity Fund, LP and a $100 million to York Capital Management, LP.
Airlie Opportunity Capital Management, LP was founded by Dort Cameron III in February 2003 and currently manages $2.5 billion. James Dinnan founded York Capital Management in 1991. The firm offers a multi-strategy, event-driven investment portfolio.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.