New Jersey Eyes Brummer, Winton For $100M Mandates

Nov 30 2010 | 1:35pm ET

New Jersey's state public pension manager is poised to pour $300 million into hedge funds—including two new hires.

The New Jersey State Investment Council earlier this month may award a pair of $100 million mandates. The Garden State last month boosted its alternative investments limit to 38% from 28%.

The beneficiaries of the new largesse are likely to be Brummer & Partners and Winton Capital Management. The $70.2 billion pension is considering awarding the mandates to the former's Lynx global derivatives hedge fund and to the latter's Winton Futures Fund, HFMWeek reports.

The SIC also voted to boost its investments with Davidson Kempner Capital Management and King Street Capital by $50 million each. Both hedge funds currently manage $100 million for the pension.

Even with the new allocations, New Jersey still has a long way to go before reaching its alts. limit. The system had 14.26% of its assets invested in alternatives at the end of the third quarter, and only one third of that in hedge funds.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain Capital: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of