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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of