Friday, 27 May 2016
Last updated 2 hours ago
May 23 2007 | 12:51pm ET
The New Jersey Division of Investment has committed a total of $300 million to a trio of hedge funds and private equity funds.
The system is putting $100 million with the Silver Point Capital Fund, a credit-based vehicle, according to a due diligence memo penned by director William Clark.The fund has returned an annualized 21.14% since inception in January 2002.
The system is committing equal amounts to Vista Equity Partners Fund III, a middle-market fund focusing on enterprise software companies, and New Mountain Partners III, a middle-market buyout fund that focuses on defensive growth industries companies such as adult education, health care, business services, transaction processing, and media.