Wednesday, 3 June 2015
Last updated 34 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…