New Jersey Seeks More Commodity Exposure

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.


In Depth

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.