New Jersey Pours $1.745 Billion Into Alts.

Aug 6 2012 | 11:05am ET

New Jersey's main public pension agency has gorged on alternative investments, committing up to $1.745 billion to seven firms.

The biggest winner was Och-Ziff Capital Management. The New Jersey Division of Investment committed $600 million to the hedge fund giant, to five separate accounts. Between $200 million and $500 million will go to Och-Ziff's bank loan fund OZSC II and up to $200 million to its predecessor, Och-Ziff Structured Credit, which already has some $625 million of the Garden State's money. New Jersey will also invest up to $400 million in a credit strategy, up to $200 million in a real-estate strategy and up to $150 million in a real assets strategy. Exactly how the total kitty will be divided will be determined as opportunities arrive, Pensions & Investments reports.

The division also doubled down on its investment with Arden Capital Management, committing another $250 million to its multi-strategy fund of hedge funds. It committed the same amount to Rock Creek Group's Woodley Park fund, bring its total investment in that vehicle to $750 million.

New Jersey also added a couple of names to its hedge fund portfolio, making initial investments in Dyal Capital Partners and MKP Capital Management; the former will get $200 million and the latter up to $150 million.

Nor did the division ignore private equity, committing up to $175 million to Roark Capital Partners, including up to $75 million in co-investments, and $120 million to Real Estate Capital, including as much as $40 million in co-investments.


In Depth

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

Lifestyle

Strippers Accused Of Robbing Hedge-Fund Manager Face Jail

Oct 20 2014 | 9:20am ET

A group of alleged stripper-thieves—whose victims include a hedge-fund manager...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.