New Jersey Commits $1B To Hedge, Private Equity Funds

Mar 25 2008 | 11:53am ET

The $77.7 billion New Jersey Division of Investment is looking to allocate a further $1 billion to a pair of hedge funds and five private equity funds.

The Garden State’s investment council is considering a $100 million commitment to activist hedge fund Knight Vinke Institutional Partners II and $100 million to Marathon Special Opportunities Fund, a low-volatility global distressed-securities offering.

On the p.e. front, New Jersey is committing $400 million to the CSFB/NJDI Investment Fund, a separate account mandate with Credit Suisse to source and commit $200 million to buyout funds located in North America raising $1 billion or less. New Jersey is also committing $100 million to another joint venture with CS dubbed the CS/NJDI Emerging Opportunities Fund II, a separate account that will make commitments in small and/or “emerging” buyout and venture capital funds.

In addition, New Jersey is committing $200 million to NJHL European Buyout Investment Fund III, a separate account was established with Hamilton Lane to invest in large international corporate finance/ buyout funds with significant investment exposure to European based companies. Lastly, the pension fund is committing €106.25 million (US$163 million) to AnaCap Financial Partners, a U.K.-based middle-market buyout fund.

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