Thursday, 26 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…