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

Firm Focus: Sustainable Insight Capital Bullish On ESG

Aug 12 2014 | 9:18am ET

Bruce Kahn spent over 15 years as a research scientist/consultant on environmental...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note