Garden State Increasing Allocation To Alternatives

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.

Direct real-estate investments will also increase, roughly threefold, to $1.75 billion.
The New Jersey State Pension Fund has $74 billion in assets.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...