Court Says N.J. Can Invest In Alternatives

Aug 25 2008 | 1:00am ET

New Jersey will be able to invest some pension money in alternative investments, after a court rejected a union bid to keep the money out of them.

A state court gave the Garden State’s Treasury Dept. permission to move forward with a plan to put about $9 billion, or 11.5%, of the state’s $78 billion in pension assets into hedge funds and other alternatives. The ruling comes as a new report shows the state pension systems is even farther from being able to meet its commitments than previously thought.

A new study shows that more police and firefighters than expected are retiring with disabilities, leaving a gap of some $550 million.

The Communications Workers of America and the New Jersey Education Association had sought to block the move, arguing that hedge funds are too risky and prone to political abuses.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...