Wednesday, 27 May 2015
Last updated 12 min ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…