Monday, 29 December 2014
Last updated 11 hours ago
Mar 19 2007 | 11:07am ET
The New Jersey Division of Investment is expanding its investments in alternatives, making a direct investment of $75 million in the Canyon Value Realization Fund and a $100 million commitment to Black River Multi-Strategy Leveraged Fund. In addition to the two hedge funds, the system is also committing a total of $425 million to four private equity funds.
New Jersey has committed $100 million to Court Square Capital Partners II, $25 million to InterMedia Partners VII, $200 million to a separate account managed by Goldman Sachs and $100 million to a separate account managed by Lehman Brothers.
The Canyon Fund has posted annualized return of 11.94% with a 7.06% standard deviation since inception, according to the Canyon Capital Partners, which manages $12.5 billion, $8.3 billion of which is in hedge funds. Black River employs 15 different strategies including fixed-income relative value, convertible bonds and derivatives and commodities, and has enjoyed an annualized net return of 12.38% since inception.
The four p.e. mandates give the system geographical diversification within its portfolio: Court Square and InterMedia Partners focus on the domestic middle-market buyout sector. The Goldman mandate gives the system a presence in the European middle-market buyout scene, while Lehman is charged with constructing a diversified portfolio of funds and direct investments that are either headquartered in New Jersey or have significant operations in the state.
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.