New Jersey commits up to $100 million for distressed debt

The New Jersey Division of Investment, which manages investments for the $73.6 billion New Jersey Pension Fund, Trenton, is committing up to $100 million to Glendon Opportunities Fund II, said a spokesman for the state's treasury department.

The distressed debt fund is managed by Glendon Capital Management. It is the first commitment to the manager for the division of investments.

Private equity consultant TorreyCove Capital Partners assisted.