Monday, 30 March 2015
Last updated 2 days ago
Dec 12 2011 | 12:54pm ET
New Jersey's public pension funds may play Santa Claus at the Blackstone Group's holiday party this year.
The New Jersey Division of Investment is considering mandates totaling $1.8 billion to the alternative investments giant. Most of the money, $1.5 billion, would go to four managed accounts, with the remaining $300 million invested in three of Blackstone's funds.
The proposed investments offer the New Jersey pensions "significant benefits," among them fee discounts, saving the pensions $122 million over the life of the deal, "the largest single-year commitment by any investor in Blackstone's history," a spokesman for the firm said. Blackstone is already New Jersey's largest alternative manager with $1.1 billion in commitments.
Up to $1 billion of the pension's money will be invested in buyouts and real assets, with $500 million going into energy and credit managed accounts run by Blackstone's credit hedge fund unit, GSO Capital Partners. In addition, New Jersey will invest $150 million in Blackstone Energy Partners I, $100 million in GSO Special Situation and $50 million in Blackstone Capital Partners VI.
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…