Sep 8 2006 | 12:00am ET
New Jersey’s state pension funds are set to nearly triple their allocations to alternatives in the coming year, including a 475% increase in hedge fund allocations.
Under a new investment plan adopted in July, an additional $3.8 billion in Garden State pension funds is set to flow into hedge funds, where the state currently parks $800 million. Of that amount, no more than $2 billion is to be invested in funds-of-hedge funds.
Private equity is also getting a big boost, as the allocation to this asset class will almost double from $2.2 billion last year to $4.1 billion in the fiscal year ending June 30, 2007.
Mar 10 2014 | 11:33am ET
A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…