Wednesday, 25 May 2016
Last updated 49 min ago
Nov 9 2012 | 9:59am ET
The New Jersey Division of Investment has boosted its alternative investment portfolio by some $650 million.
The $70.6 billion pension system hired Scopia Fund Management, Pensions & Investment reports, to manage a $150 million long/short equity mandate. Scopia's fund focuses on small- and mid-cap stocks.
The Garden State also gave a big vote of confidence to BlackRock Private Equity Partners' SONJ Private Opportunities Fund, doubling its investment in the separate account co-investment vehicle to $800 million. And it added $100 million to an existing $150 million invested with GoldenTree Asset Management's bank-loan fund, Credit Opportunities.