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

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR