Friday, 27 November 2015
Last updated 1 day ago
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.
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…