Crayhill Capital Management Scores $150M Allocation From New Jersey

Jan 26 2017 | 10:31pm ET

The New Jersey Division of Investment has allocated up to $150 million to alternative credit manager Crayhill Capital Management as part of a broader $450 million hedge fund commitment disclosed on Wednesday. 

The Division invests on behalf of New Jersey’s $71.2 billion pension fund. 

The Crayhill allocation will come in the form of a separate account, according to information seen by FINalternatives, with up to $100 million placed in the company’s Principal Strategies Fund or a “parallel vehicle,” and the remainder devoted to “other investment” identified by the company. It is reportedly the Division’s first investment with Crayhill. 

Founded in August 2015 by Magnetar Capital vets Josh Eaton and Carlos Mendez along with Strategos Capital Management managing director Frederick Horton, New York-based Crayhill is an alternative investment firm that specializes in sourcing and investing in a broad range of illiquid credit and asset-based opportunities. It had more than $900 million in assets under management as of mid-2016.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

Business Insider has been reporting on the unusual trading activity of a mystery trader who placed a profitable short equity bet to the tune of $21 million on the Aug. 10 move in the CBOE Volatility Index (VIX).