Wednesday, 17 September 2014
Last updated 9 min 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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