Tuesday, 4 August 2015
Last updated 16 min ago
Jul 2 2008 | 2:00am ET
The New Jersey State Investment Council is committing $175 million to a pair of private equity and hedge funds.
The $80 billion pension fund is committing $75 to Ironbound Partners, a $1 billion global value oriented long/short equity hedge fund. Princeton, N.J.-based Ironbound was founded by ex-Merrill Lynch portfolio manager Stephen Silverman and, since inception in August 2004, the fund has generated annualized returns of 18.77% with volatility of 10.96% through May 2008.
New Jersey is also committing $100 million to Fairview Capstone II, which is being organized as a separate account to make commitments in small and/or emerging buyout and venture capital funds. The investment is a re-up for the division after committing an initial allocation of $100 million to Fairview Capstone in 2007.
Fairview Capstone Fund II intends to invest 50% to 60% in venture capital funds, 30% to 40% in buyout funds and up to 15% in special situations.
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…