Wednesday, 6 May 2015
Last updated 1 hour 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…