N.J. Could Restrict Hedge Funds That Invest In Casinos

Dec 10 2012 | 5:35am ET

Hedge funds and private equity firms betting on New Jersey casinos could be barred from betting on its political players.

Garden State lawmakers last week introduced bills that would bar alternative investment firms that invest in Atlantic City casinos from making state political contributions. Strict limits could also be placed on how much state pension funds could invest in funds with A.C. investments.

The moves come after it emerged that New Jersey had invested some $200 million in a hedge fund that invests in a new Atlantic City casino.

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