The New Jersey Division of Investments (DOI) approved five investments to alternative investment funds totalling $1.2B at its October 30 board meeting.
In private equity, the pension allocated $300M to NB/NJ Custom Investment Fund IV, a separately managed account managed by Neuberger Berman. Fund IV is focused on private equity co-investments. Also approved in private equity was a €200M (~$215M) allocation to ICG Europe Fund IX. The fund focuses on investing throughout the capital structure of European mid-market and upper mid-market companies, largely through debt instruments. Lastly the New Jersey DOI approved a $200M commitment to JLL Partners Fund IX, a middle market buyout fund managed by JLL Partners.
In real estate, the board approved a $300M investment in Carlyle Realty Partners X, an opportunistic fund strategy managed by The Carlyle Group. The fund is focused on investing in residential and industrial property sectors.
Lastly, in private infrastructure, the pension allocated $200M to EQT Infrastructure VI and up to $200M in a co-investment sidecar vehicle. The pension said Fund VI will increase its exposure to infrastructure while diversifying away from volatile, conventional energy investments in real assets.
According to Dakota data, the NJ DOI manages $96.8B in assets.
