New Jersey Boosts Alts. Allocation By 14%

May 29 2012 | 8:29am ET

Thursday was a good day in the Garden State for alternative investments firms.

The New Jersey State Investment Council voted to increase the state's $72.4 billion public pension fund's alternatives allocation to 29.7%, from 26%. The change at the Division of Investment will take effect on July 1.

The move brings the Division closer to the 33.2% target allocation for alternatives, although its actual allocation is just 21.5% presently, Pensions & Investments reports.

Hedge funds will be the biggest beneficiary of the move, with their target allocation growing from 10% to 12.5%. Private equity got a 10% boost to 7.7%, as did real estate, to 5.5%.

The Council also voted to commit $150 million to a Lazard Rathmore credit hedge fund and another $150 million to a pair of Northwood Investors funds. It also approved a $20 million follow-on commitment to Tenex Capital Partners, a private equity firm.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note