The New Jersey State Investment Council this month committed $400 million to a trio of private equity funds.
According to an internal memo, the $80 billion pension plan is committing $100 million to JPMorgan Venture Capital Institutional Investors IV, a commingled fund of funds focusing on early-stage companies, especially in the technology, communications and life sciences sectors.
The plan is also committing $100 million to Lehman Brothers Secondary Opportunities Fund II, which targets partnerships that have completed or are near the end of their investment cycle, and $200 million to Lindsay Goldberg Fund III, a small- to mid-market buyout fund.