NJ DOI Commits $1B to Alts

The New Jersey Division of Investments has approved three commitments totalling $1.64 billion to real assets, private credit, and real estate.

$500 million was allocated to NJ – StepStone Real Assets SMA. 

In private credit, $414 million was allocated to Blackstone Tactical Opportunities Fund A.

In real estate, $150 million was allocated to KSL Capital Partners Tactical Opportunities Fund II.

As of December 31, 2023, the $95 billion Investment Fund allocates 2.3% to real assets with a target of 3%. 

Additionally, the Investment Fund currently allocates 7.06% to private credit with a target of 8%.

Lastly, NJ DOI currently allocates 5.57% to real estate with a target allocation of 8%.

For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!