New Jersey Division of Investment Increases Alternatives Target

The New Jersey Division of Investment manages public pension money. The US$ 72.4 billion fund has increased its allocation to alternatives from 26% to 29.7% which will take effect on July 1, 2012. The State Investment Council endorsed the allocation on Thursday.

New Targets for Alternatives

  • Hedge Funds 10% to 12.5%
  • Private Equity 7% to 7.7%
  • Real Estate 5% to 5.5%
  • Commodities and Real Estates 4% to 4%

The public investor invests in a myriad of strategies, including credit strategies. Hedge fund credit strategies have been gaining in popularity amount U.S. public pension funds. With regards to private equity the New Jersey Division of Investment has exposure to distressed/mezzanine debt, buyouts, secondaries, co-investments, and special situations.

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