New Jersey DOI Commits $475M to Alts

The New Jersey Division of Investments has made three alternative investments totaling $475 million.

Within private equity, $150 million was committed to Altaris Health Partners VI and $100 million to Institutional Venture Partners XVIII.

In private credit, $225 million was committed to a direct lending SMA managed by Cerberus.

Aksia assisted with the investments.

As of June 30, 2023, the NJ Division of Investments has allocated approximately 11.95% of their holdings to private equity with a target allocation of 13%. Additionally, they have allocated 7.14% of holdings to private credit with a target allocation of 8%.

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Written By: Helen Bascom, Marketing Associate

Helen Bascom is a Marketing Associate at Dakota.