Wednesday, 23 July 2014
Last updated 5 hours ago
Mar 22 2010 | 2:25pm ET
New Jersey’s public pensions funds will pour $1.2 billion into alternative investments, a move that will increase their hedge fund exposure by almost a quarter.
The New Jersey State Investment Council approved allocations of $100 million apiece to new hedge funds managed by Brevan Howard Asset Management and Pershing Square Capital Management. It also added $250 million to funds of hedge funds managed by Goldman Sachs Asset Management and Rock Creek Group; the former now manages $597 million for the Garden State, and the latter $494 million.
The new and expanded commitments bring to $3.6 billion New Jersey’s hedge fund portfolio. The SIC manages $67.3 billion.
New Jersey also allocated $500 million to commodity-linked notes. Cargill will receive $150 million of it, with the rest going to one or more new CLNs.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…