New Jersey DOI to Commit Nearly $2B to Nine Alts Funds

The New Jersey Division of Investment (DOI) committed nearly $2B across nine funds in private equity, private credit, and real estate, according to agenda materials from its January 29 board meeting.

New Jersey DOI committed $150M to large buyout fund Hg Saturn 4 and $200M each to middle-market buyouts BPEA Private Equity IX and Bain Capital Fund XIV. In private credit, it allocated $400M to a Blue Torch SMA with a $200M co-investment sleeve, $150M to a TCW direct lending SMA with an equal co-investment allocation, and $100M to Strategic Value Special Situations Feeder Fund VI. Additionally, the pension committed $400M to StepStone’s Real Estate SMA Fund. DOI staff recommended the investments to the State Investment Council.

Private equity consultant Aksia assisted the $93B pension in conducting due diligence on the investments.