Ex-Carlyle Partner Picked For New Jersey Investment Council

May 12 2010 | 2:50am ET

New Jersey’s State Investment Council is headed by a hedge fund manager and big-time Democratic Party donor. So the Garden State’s new Republican governor is hoping to add some alternatives balance.

Gov. Chris Christie yesterday nominated private equity veteran Robert Grady to the 13-member board. Grady, who lives in Jackson Hole, Wyo., served as budget adviser to Christie’s transition team.

Grady is a managing director at Denver-based p.e. firm Cheyenne Capital Fund and is a former partner at the Carlyle Group. He was one of three nominees to the Investment Council, led by Boston Provident Partners chief Orin Kramer, sent by the governor to the state Senate.

Kramer’s term as chairman of the council, which oversees $68 billion on behalf of New Jersey’s public pensions, expires in September.

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