New Jersey Division of Investment, Trenton, yesterday received approval from the Division’s Investment Council to invest $375 million in emerging markets, said Maneck Kotwal, an investment officer with the $75 billion fund. The initial approval gives the fund authority to invest in Hong Kong, Mexico, Brazil, South Korea and Greece. The internally managed fund initially will invest a total of 0.4% to 0.5% of assets in these countries.
The fund must come up with a list of companies to invest in and submit it to the Investment Council for approval at its July meeting.
