Sunday, 29 March 2015
Last updated 1 day ago
Jan 13 2011 | 1:18pm ET
The New Jersey Division of Investment is rewarding Centerbridge Partners for its strong performance over the past three years.
The $70 billion public pension fund made a $40 million follow-up investment to the firm’s Credit Partners fund on Jan. 1. Division director Timothy Walsh told the state’s Investment Council that the Centerbridge fund is “one of our best performing hedge funds,” having returned a cumulative 47% since the pension first invested $100 million in November 2007.
Certainly, the Centerbridge investment did not seem one of the Garden State’s best early on: It lost 23.3% in 2008. But the fund “rebounded nicely,” returning 62.5% in 2009 and 17.4% through October 2010.
The Centerbridge investment helped the pension return 8.7% in the second half, just ahead of its 8.53% benchmark. The Division’s returns were 13.4% in the previous fiscal year, which ended in June.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…