Saturday, 18 April 2015
Last updated 4 hours 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.
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…