A recent article from Infovest21 states that New Jersey Division of Investments, which manages assets for the $74 billion New Jersey Pension Fund, committed another $150 million to a hedge fund. The manager of the fund currently manages $250 million for the state.
Hedge funds presently comprise $7.2 billion of the total portfolio, which are broken down into $2 billion in absolute return strategies, $2.1 billion in credit-oriented strategies, and $3.1 billion in equity-oriented hedge funds. The fund showed positive YTD returns across all of the asset classes listed.
Read more about the New Jersey Pension allocations from Infovest21 here.